Online retail is the new buzzword among the world’s biggest luxury brands. From hosting runway shows online to starting e-stores like that of fine jewelry and watch retailer Ajaline, luxury labels are flocking to the Internet like never before. Specialist online retailer Ventee Privee has been in the online retail business for a long time. The company is now eyeing a new business angle. According to reports, the world’s largest private sales website is working to take charge of the e-commerce business of big luxury brands.
What this means is that Vente Privee will soon become responsible for all the online transactions of a given brand – from maintaining the brand’s website to logistics to delivering products to online customers. To achieve this, Vente Privee is developing a new service business, the Digital Commerce Factory. If you look at this from the point of view of the luxury brands, it makes a lot of business sense. Most labels do not have an in-house team that can control the e-commerce aspect. Outsourcing the entire business is cost-effective and less of a headache. Thus, the Digital Commerce Factory is sure to be a welcome development.
The brain behind Vente Privee is founder Jacques-Antoin Granjon, who came up with the idea of selling the extra stocks that pile up with high-end brands. The company has been an inspiration to several similar start-ups. However, Granjon’s exclusive deals with big brands has helped the company retain the top slot in Europe. The new business will only add to Granjon’s hold on the e-commerce market.
Via: Business Insider