Qatar fund said to invest in French online retailer

Qatar Investment Authority reportedly takes minority stake in members-only firm Vente-Privee
Qatar fund said to invest in French online retailer
By Andy Sambidge
Sun 12 Jan 2014 10:33 AM

Qatar Investment Authority has reportedly taken a minority share in French online retailer Vente-Privée.

Retail Detail Europe said that the Gulf state's investment vehicle has purchased another shareholder’s interest, without naming them.

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 report said the Qatari move is not the only change at Vente-Privée as joint founder Jacques-Antoine Granjon has increased his shareholder stake from 20 to 25 percent.

The French discount web shop currently has about 20 million members across eight European countries.

The retailer had a 2013 turnover of nearly 2 billion euro, the report added.

The site hosts sales of designer brands for members only with discounted prices of up to 70 percent off.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.