USD13m fund-raising deal for Glamour Sales
February 28th, 2010Hong Kong, 28th January 2010 – Glamour Sales, an Asia-based online private sales group, has completed its first round of financing led by AXA Private Equity and Mandra Capital, raising a total of USD 13 million. Founded by Olivier Chouvet, a successful French entrepreneur in Asia, along with his partners in late August 2009 in Japan, Glamour Sales has been collaborating with leading international fashion, cosmetics and jewellery and lifestyle brands in Asia, and has managed to organize more than hundred online private sale events since established. Apart from their financial investment, AXA Private Equity, a European private equity firm in Asia, as well as Mandra Capital, an Asian investment firm, shall play an active role in the development and expansion strategy of Glamour Sales, especially in Japan and China.
“Following the examples of Europe with “venteprivée.com” and of the U.S with “Gilt”, Asia has from now on its own star in the online private sale business, “Glamour Sales”, said Fabrice Turries, co-founding Partner of Palazzari & Turries, an M&A boutique based in Hong Kong and Milan, which advises Glamour Sales since its establishment, and on this transaction in particular.