SUSANA GALEANOJULY 18, 2019
Although Privalia had been one of the historical names of Spanish eCommerce, it was recently acquired by Vente Privee , a French company and one of the giants of eCommerce in Europe. Now Vente Privee has decided to divest itself of the Privalia business in Mexico, since it has sold it to the Mexican company Grupo Axo , a local distributor of more than 30 international fashion brands such as Tommy Hilfiger, Guess , Coach or Calvin Klein.
Grupo Axo takes over the Privalia business in Mexico
The amount of the Privalia sale in Mexico has not yet been disclosed, as it is still subject to approval by the Federal Commission on Economic Competition in Mexico. But it is known that Grupo Axo will now control 100% of the company Privalia México , according to a statement sent to the Mexican Stock Exchange (BMV) by Grupo Axo itself.
Acquires Vente-Privee from Privalia
Currently, Privalia has a large catalog that includes clothing, footwear and home products, among others, and has more than a thousand suppliers in the country, achieving sales of nearly 2 billion pesos, while in the past In May, Privalia in Mexico shared its goal of increasing its turnover by 25% this 2019.
In January of this 2019, Vente Privee, current owner of Privalia decided to create a new brand: Veepee, which seeks to create a synergy between its brands, which will create this new global brand that shows the vision and culture of the company.
Brazil and Mexico have been two great markets for Privalia. Since 2017, the company has seen its turnover rise thanks to them, according to the first and last report on it that Vente Privee shared.
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Brazil was the market that managed to further boost its turnover, since it showed an increase of 21% in 2017, reaching around 162.8 million dollars. Mexico obtained the second place among the Privalia markets with the highest increase , with an increase of 19.2%, achieving 87.2 million dollars in 2017.
Privalia now belongs to the Mexican company Grupo Axo
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The purchase is in addition to the acquisition of The Athlete's Foot and Promoda
With the purchase of the Privalia business in Mexico, Grupo Axo will achieve growth through this catalog, in addition to reinforcing its online channel. During the past year, the Mexican company Grupo Axo launched an eCommerce platform where it markets several of the brands it distributes.
In addition, Grupo Axo became the majority shareholder of Promoda, since it is the owner of 87.5% of its shares. The Mexican company continues to grow through its acquisitions, and the most recent and prior to Privalia was Tennix, owner of The Athlete's Foot (TAF) in Mexico, a company that has operated in Mexico since 2001 and which is also the TrueKids distributor in the country, one of the first sports shoe store chains in our market.
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