Carrefour has announced that its acquisition of a 17% strategic stake in Showroomprivé, a leading online fashion player, has been confirmed.
Following the completion of this operation, Carrefour Group replaces Conforama in the existing shareholders’ agreement between the founders of Showroomprivé and Conforama, the retailer said.
Conforma is a subsidiary of Steinhoff Group, the troubled South African retail operation, which has been hit by an accounting scandal over the past couple of months.
Carrefour's willingness to acquire a stake in Showroomprivé was first announced on 11 January 2018.
Ownership
Showroomprivé's founders retain a stake representing 27.17% of the capital and 40.42% of the voting rights of Showroomprivé and Carrefour Group acquires a 16.86% stake in the capital and 13.67% of the voting rights.
Carrefour Group will be represented on the board of directors of SRP Groupe, Showroomprivé’s head company, by Marie Cheval, executive director customers, services and digital transformation at Carrefour Group, as well as Frédéric Haffner, executive director strategy and M&A of Carrefour Group, who will be censor of the board of directors .
Showroomprivé sells products from around 2,000 brand partners on its website and mobile app, and has over 28 million members in France and in eight other European markets.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.
