From destocking
to digital jober.
It was in 1985 that Jacques-Antoine Granjon and Julien Sorbac created Cofotex, a flash sales company. The two friends met during their student years at the Paris European Business School (EBS). Together, they set out to conquer the wholesale market of end-of-season products. Their journey was blessed by favourable winds. In the 1990s, brands had begun to increasingly use “discount wholesalers” to get rid of their unsold stock. In 1999, Cofotex rose to the position of European leader with revenue exceeding 200 million French francs.
At the beginning of the 21st century, the advent of the Internet opened up new opportunities. “It was the idea that one could fit the entire world into a virtual shop by presenting designer brand products in actual digital catalogues“, the founders continued to explain excitedly.
In 2001, the concept of vente-privee was born. It is based on this simple yet revolutionary idea of using digital technology to transform the age-old business of stock clearance. At a time when e-commerce had barely taken off in Europe, vente-privee rolled out a 100% digital platform allowing major brands to sell their stocks in a beautiful showcase that protected their image at sharply discounted prices. vente-privee then invented the digital model for flash sales and became a pure player retailer that radically disrupted the retail code in its historic sector, fashion.
In 2019, vente-privee changes its name to become a European brand: Veepee. A new step that confirms the positioning of the company as the European flash sales leader.
Every day, the Veepee website sends messages to its members inviting them to participate in flash sales. Prêt-à-porter, fashion accessories, home electronics, toys, sports items, high-tech, gastronomy, etc. Products sold in limited quantities, for a limited period of time (between three and five days), proposed at sharply discounted prices and staged with emphasis on their quality.
In 2021, Veepee operates in over 10 countries throughout the world. A success fuelled on the permanent concern to propose a high quality offer and service under the direction of Jacques-Antoine Granjon and his partners. “We offer our members must-have deals at delightful prices in a beautiful showcase. We aim at operational excellence and service quality. From staging to customer relations through to smooth browsing, our mission entails creating events on a daily basis to stoke the fires of desire”. A proven method which is now copied worldwide.
7 000
Partner
brands
3 to 5 days
Flash sales last on average
between three and five days
1,4
billion products sold in 20 years