Release date: 8 July 2021
Promoter – Financial Intermediary
VENTE-PRIVEE.COM SALocation
Description
The project concerns the Promoter's investments aiming at expanding and improving its legacy digital platform through deploying new and more efficient technologies across its services, aiming at enhancing customer experience for its members (i.e. consumers) and brands, improving operational performance and achieving cost synergies. The activities will take place primarily in the Promoter's technical centres in France between 2020 and 2023.
Additionality and Impact
The financing of this project supports development and
innovation activities which generate positive knowledge and technology
externalities through the creation of innovative processes, products or
services and through skills development and upgrading. It addresses the market
failure of imperfect competition, as it contributes to expanding the
competitive space for new product technologies and helps to mitigate the
competitive disadvantage of companies with outdated digital technologies in
online services. In addition the activities are expected to involve a number of
expert companies and subcontractors in Europe, thus facilitating the
accumulation and diffusion of knowledge within the European industry. The
project has also some positive sustainability impacts mainly in terms of improvement
of energy efficiency and CO2 footprint through the consolidation of IT and
logistics infrastructures and through the development of customer-to-customer
and second-hand sales channels, which facilitate the expansion of circular
economy concepts in the sector.
The promoter has well-established ICT and digitalisation capacities and
well-structured development practices.Investments in digital transformation are aligned with
EU policy objectives (e.g. Digital Agenda, Horizon 2020 focus area "Digitising
and transforming European industry and services") and are key to strengthening the
competitiveness of the sector. The project contributes to the Bank's Policy
objective "Innovation and Skills".
EIB's involvement provides a highly flexible financial product to the borrower, allowing it to diversify its financing sources, lengthen its average debt maturity and strengthen its overall financial position. It also provides a signaling effect on the soundness and quality of the project, facilitating funding from commercial banks.
Objectives
The project concerns the Promoter's transformative investments that shall help the company maintain its competitive edge and deliver best-in-class industry standards and which cover the sales processes (new automated sales creation flow, order pipe, flexible warehouse allocation, intelligent reporting, setting up a European-wide marketplace), back-office processes (stock management, supply chain integration), seamless integration of different sales channels, logistics processes, and the information technology (IT) systems that support the above, including enterprise resource planning (ERP) systems.
Sector(s)
- Services - Wholesale and retail trade; repair of motor vehicles and motorcycles
Proposed EIB finance (Approximate amount)
EUR 80 million
Total cost (Approximate amount)
EUR 181 million
Environmental aspects
The development, implementation and deployment of IT systems is not covered by EIA Directive 2014/52/EU amending the Directive 2011/92/EU. In addition, the project activities are expected to be carried out in existing facilities that are already used for the same purposes and that are not expected to change their scope due to the project. Further details will be analysed during the due diligence.
Procurement
The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.
Status
Signed - 24/06/2021
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).