Qatar Investment Authority, the investment fund of Qatar, has taken a minority share in online retailer Vente-Privée. It has purchased another shareholder’s stock, although it is unclear who that shareholder was. It is also unclear how large the Qatari’s share actually is.
First online investment for Qatar
It is the first online step for the investment fund, despite it already having shares in Volkswagen, Heathrow airport, Barclays Bank, Credit Suisse, Harrods and Sainsbury’s. The Qatari move is not the only change at Vente-Privée: joint founder Jacques-Antoine Granjon has increased his shareholder stake from 20 to 25 %.
The private French discount web shop currently has some 20 million members across 8 European countries like the Netherlands and Belgium. It supposedly had a 2013 turnover of nearly 2 billion euro, which would be a huge leap from 2012, when it had a 1.3 billion euro turnover.
(Translated by Gary Peeters)