Amazon.com has reached an agreement to take over the Spanish web BuyVIP about 70 million euros, to enter the segment sales of premium products, as advanced by the Wall Street Journal.
BuyVIP offers through its web products of famous brands such as Dolce & Gabbana, Louis Vuitton, Levi's, other seasonal discounts.
The company, which does not buy the clothes to the manufacturer, acts as an intermediary between brands and consumers through advertising tools and electronic or trading platform, under the model of private sales club.
"BuyVIP has enormous growth potential. After (have) a turnover of 60 million euros in 2009, the company expects to exceed 130 million euros," said a source close to the sale.
BuyVIP is controlled by a consortium of private equity firms as principle Partners, Kennet Partners, the Debaeque Spanish fund and venture capital company of the German group Bertelsmann AG.
On Saturday BuyVIP acknowledged in a statement "a rapprochement" with the American Amazon.com and be "working to reach an agreement," but denied that the operation was closed. The company was founded in Madrid in 2006 by G Ustav Garcia and Gerald Heydenreich Brusilovsky.