Privalia to Expand in LatAm after Round of Financing

Spain-based private sales club Privalia, which sells branded clothes and accessories at discounted prices has closed a new round of USD 32 million to expand in Latin America, according to TechCrunch.

Privalia currently operates in Spain, Italy, Germany, Mexico and Brazil. The company said in a press release that sales in Mexico grew by more than three digits in 2012, and that Brazil is its main operating unit by sales volume. Its business grew 32% in 2012, with total revenues of USD 543.5 million.

The new financing brings Privalia’s total funding to date to $251 million. It also adds a new investor, with Belgian-based fund Sofina – also an investor in European online shoe retailer Spartoo. According to Crunchbase, the company has previously raised a total of $218 million in two rounds, taking place in 2010 and 2011.

Other prior investors include La Caixa Capital Risc, Nauta Capital, Highland Capital Partners, General Atlantic, Insight Venture Partners, Index Ventures, the founders of dress-for-less Mirco Schultis and Holger Hengstler, and José Manuel Villanueva and Lucas Carné, the two co-founders of Privalia.


Editorial Staff

Portada Staff

MORE FROM PORTADA

AB InBev Awards U.S. Media Account to Dentsu Aegis Network

AB InBev Awards U.S. Media Account to Dentsu Aegis Network

Brewing giant AB InBev has named Dentsu Aegis Network’s Vizeum as its new agency for the U.S. and Canada.


BRAND MARKETING RESEARCH: Apple, Google World’s Top Brands

BRAND MARKETING RESEARCH: Apple, Google World’s Top Brands

A summary of the most exciting recent research in brand marketing in the U.S., U.S.-Hispanic and Latin American markets. If you're trying to keep up, consider this your one-stop shop.


Marketers Use Social Media to Boost Sponsorships: ANA STUDY

Marketers Use Social Media to Boost Sponsorships: ANA STUDY

Social media — particularly Facebook, Twitter, and Instagram — has emerged as a key component in supporting sponsorship activations among a great majority of marketers, according to a new study by the ANA (Association of National Advertisers).