the leading online fashion group, has closed a new investment round of 25 million euros thanks to , a Belgian investment company that becomes part of the group of shareholders of .
privilege thus strengthens its financial structure to expand its leadership in all the countries where it operates and continue investing in its expansionespecially to the Latin American markets of Mexico and , Privalia’s main operation by sales volume. It serves to give a boost to the company, which in 2012 grew by 32% and reached a gross turnover of 422 million euros.
Privalia and mCommerce
One of Privalia’s growth engines at the moment comes from its : it already earns 1 in every 3€ for purchases made from mobile terminals in Spain. In Mexico, another where the countries where it is present, sales through even exceed 40% of total sales, and on vacation dates can reach 60%. “These figures are the fruit of our early bet on mobile and of a differentiated commercial strategy for this channel, which is allowing us to increase the distance with respect to the competition”, he affirms Joseph Manuel Villanuevaco-founder of Privalia, who continues “and something very important, it also allows us to deseasonalize sales, since we reach our client even if he is far from his usual place and without access to a computer”.
The international expansion of Privalia
Privalia has achieved a positive operating EBITDA at a consolidated level during the first quarter of 2013, exceeding its budget and continuing with the positive trend of the last quarter of 2012, when the operations in Europe already closed in profitability. In this sense, the company anticipates for this 2013 that its operations in Latin America will also enter black numbers and will achieve its first full year with positive profitability at a consolidated level.
“In the last three years we have invested heavily to consolidate ourselves as one of the leading groups in Europe and Latin America. The current size of the operations allows us this year to focus on operational efficiency and profitability growth” indicates Lucas Carné, co-founder of privilege. “Only those electronic stores that are profitable or have the support of strong investors, they will be able to survive in the next three years. We are lucky to meet both conditions.”
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