After stepping down as CEO of sales portal Showroomprivé in December, Thierry Petit is now selling his stake in the French online retailer. The businessman will step down from his board seat at the end of the year, while investor Eric Sitruk could get a seat.
In fact, Thierry Petit held 20.9 million shares, each sold for one euro, i.e. a total of 17.61% of the capital. Of these shares, 11.7% will be redistributed among the founders under certain conditions precedent, while 2.5% will go to a shareholder outside the majority concert. And 3.3 % will be purchased by the group itself for a free share plan for employees and managers.
Investor Eric Sitruk, best known in the fashion world for the Fashion Bel Air chain, which already owns 5% of the capital, will acquire three million shares of Thierry Petit’s shares, thus adding 2.5% of the group to his portfolio.
The sale is subject to Carrefour waiving its right of first refusal and could be completed in the next few days. David Dayan, the company’s co-founder and CEO, has also pledged to vote in favor of Eric Sitruk’s appointment as a director if he so requests and holds more than a 7% stake.
Showroomprivé recently unveiled Le Village, a marketplace that digitizes the experience of physical retail outlets and aims to have a premium offer all year round. «Our ‘premiumization’ strategy is not about increasing our prices, but about offering more value and quality to customers and brands. The acquisition of The Bradery was a step in this direction,» David Dayan recently told FashionNetwork.com.
In 2021, Showroomprivé raised its revenue by 3.8% to €723.8 million, while its turnover stood at €922 million (up 3.1%). Ebitda rose to €48.2 million, up from €42 million in FY2020, a year in which the company had «returned to green», with turnover up 13.3 %, as confinements boosted online sales.