Russian Vente-privee.com copy-cat gets funding
Written on October 29, 2008 – 2:12 pm
Ernst-Jan Pfauth, editor in chief
In an upcoming Internet market like Russia, it pays of to choose for the infamous European copy-cat approach (once invented by the Samwer brothers, had Freundefeed as the absolute peak). Yakov from Quintura reports that a Russian Vente-privee.com rip-off has raised a multi-million dollars round of funding from Mangrove Capital Partners and ABRT Fund.
KupiVIP.ru copied the shopping club idea of Vente-privee.com, : which has proven to be a success in several European markets. According to Wikipedia, the French company has around 5.7 million members. Award-winning eCommerce man, Founder and CEO Jacques-Antoine Granjon, employs 750 people and probably welcomed 2007’s year report with a smile (€0.5 billion turnover).
“What’s this unique shopping concept?”, I hear you ask. For starters, it’s an invite only store. If you want to join Vente-privee.com and KupiVIP.ru, you’ll have to ask an existing member for an invite. As soon as you’re among the club of happy spenders, a world of designer brand sales opens up for you. From grand cru wines to a Hermes bag, you can get it for a bargain.
So yes, consider it to be a safe choice for Russian industrial investment group Arlan to bring this unique shopping concept to a country which has fallen in love with consuming. The first round of funding is just the beginning.
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