Vente-Privee, the French owned private Sale website, notched up a 40% sales increase to £290 million in the first half of 2009, as bargain-hungry shoppers continued to look for discounts.
Vente-Privee co-founder and chief executive Jacques-Antoine Granjon said that the retailer’s projected turnover for this year now stood at £557m.
Vente-Privee has eight million members in total up 42% on last year. It sells to customers in markets such as Germany, France, Italy and Spain. The company held 870 Sales in the first half of the year.
Vente-Privee, which sells designer stock with discounts of up to 70%, already has 160,000 members in the UK, 11 months since it launched here.
Scott Collins, managing director of Summit Partners, the private equity backers of Vente-Privee, said that sales growth showed that bargain-hungry shoppers had continued to buy designer good in the recession albeit at a discount.
He said: “Vente-Privee’s growth demonstrates that a company with an excellent management team, innovative business model and proper funding can thrive in a downturn. We’re confident that Vente-Privee will continue its strong growth trajectory.”