Inside money, markets, and Big Tech

This article was published on October 29, 2008


    Russian Vente-privee.com copy-cat gets funding

    Russian Vente-privee.com copy-cat gets funding
    Ernst-Jan Pfauth
    Story by

    Ernst-Jan Pfauth

    Ernst-Jan Pfauth is the former Editor in Chief of Internet at NRC Handelsblad, as well as an acclaimed technology author and columnist. He a Ernst-Jan Pfauth is the former Editor in Chief of Internet at NRC Handelsblad, as well as an acclaimed technology author and columnist. He also served as The Next Web’s blog’s first blogger and Editor in Chief, back in 2008. At De Correspondent, Ernst-Jan serves as publisher, fostering the expansion of the platform.

    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.