Spartoo open to future investment opportunities, says CEO
The CEO of Spartoo, Boris Saragaglia, has confirmed an interview with FashionNetwork that the e-commerce firm is not simply "for sale", as reported by Challenges, but said the portal is open to possible investment opportunities to continue its development.
"The idea is to do what we do every three years, namely to look for partners in the industry," explains Saragaglia. "We had a great year in 2016 and today we have a good liquidity level, as well as projects which are starting to pay off in terms of stores, logistics, marketplace, and our own brands... But we know that French competition faced considerable pressures at the end of last year and at the start of 2017. So, we recognise that we are well-positioned for new partnerships in this grand adventure."
Spartoo is currently 75%-owned by investments funds A Plus Finance, CM-CIC Capital Privé, Endeavour Vision, Highland Capital and Sofina. But are the founders, who hold the remaining 25%, ready to relinquish their capital?
"Yes, but just as we were seven years ago, in the first round, and in subsequent rounds," says the CEO. "We don't have a fixed idea and are open to every scenario. For this reason, we have mandated a bank (Crédit Agricole CIB). That may lead to an investment round for raising funds. There may be a industrialist with space who sees us as a way of making additional revenue. If, that's to say, we sell the firm with a new funding round, very well then. Maybe it could even be time for the management to reacquire capital. And if someone makes us an offer with too many zeros to count, we will look at it. But, we are working on the long term. Our goal, overall, is to find an industry partner to continue our development."
Spartoo currently employs 350 people and attracts 14 million unique monthly from 25 countries across Europe. Last year, sales reached 150 million euros, an increase of 10%. As well as its own brands, the e-commerce portal claims to sell more than 300,000 items from 3,500 brands, covering footwear and clothing.
The firm recently acquired the footwear brand Kindy and is looking for other opportunities.
"We are currently considering other brands. Then we'll have to see which ones we'll push forward with," says Saragaglia.
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