Private buying clubs are still hot! Debaeque Venture Capital acquires 10% stake in BuyVIP
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.