[Spain] European buying clubs remain a hot item, along with the fashion brands they sell at a discount. Barcelona-based Venture Capital firm Debaeque has acquired a 10% stake in BuyVIP, although the actual price is undisclosed. In April, however, the company raised about $20 million in its third round of funding, led by Kennet Partners, along with Mangrove, Bertelsmann, 3i and Molins Capital.
BuyVIP claims to be the leading buyers’ club in Europe, the invitation-only e-commerce site says it’s established 600 brand relationships across the region – the company has operations in Spain, Germany, Italy, Netherlands, Poland and Portugal – and that the ‘club’ itself has garnered more than 4.5 million members. Partner brands include Calvin Klein, Ed Hardy, Diesel, Adidas, Puma, Nudie, Gucci and Fendi.
BuyVIP follows the same model as most buying clubs. Members are exposed to time limited campaigns in which items are offered at a heavy discount, in this case from 30-70% less retail. The items on offer are either end of season or not yet available in more traditional retail outlets, giving an element of exclusivity. BuyVIP says it offers its members around ten new campaigns each day.