Vente Privee is the online flash-sale site that began in France and partly inspired Gilt Groupe founder Kevin Ryan to push forth with plans for his own project. Gilt has grown tremendously in its few years in existence, and has become, for many in this country, the go-to site for that singular flash-sale thrill. But today, Vente Privee's U.S. site is live. Created in partnership with American Express, the site launches with a database of more than 30 million AmEx cardholders, and existing partnerships with 1,450 brands in the U.S. and Europe. Sale of merchandise discounted up to 70 percent will begin each morning at 10 a.m. EST and last 72 hours
While Gilt's sales last only 36 hours, it doesn't seem like Vente Privee will need the full 72 to complete the first sale of Paul & Joe dresses, swimwear, and accessories. The site tells you how many of each item are left in stock, and at the time of writing, most stuff is already about to sell out. Vente Privee USA will host one, possibly two, sales each day and gradually increase the offerings as holiday shopping season nears. While the French site hosts sales on everything from clothes to sporting equipment to electronics to theater tickets, the U.S. iteration cannot yet say how, if, or when they'll expand beyond fashion items.
So will Vente Privee, the inventor of the flash-sale model, be a skyscraper in the increasingly crowded skyline of similarly modeled sites in this country, or will it just blend into the rest of them? The established sites certainly don't seem to be lacking funds or attention from investors. Vente Privee in France is debt-free, boasted sales of $1.28 billion last year (up 15 percent from the previous year), and has been profitable since 2004. Goldman Sachs decided earlier this year Gilt was worth $1 billion, though the company has yet to turn a profit. Nordstrom bought HauteLook for $180 million in stock earlier this year. And Beyond the Rack, Canada's go-to flash sale site, just received $36 million in funding, and has acquired sample sale listing site Top Button.
The race to be number one in the space might just come down to which site is more appealing to brands, and who can best market to the brands' target customers. And a key thing that makes a site appealing to brands is how much excess inventory these sites can take off their hands. Why deal with a site that wants to pick and choose if another will buy all of it?
Most Viewed Stories
It’s Harder to Be Thin Than It Was in the ’80s
Why Do I Jerk Awake Right As I’m Falling Asleep?
From Up Close, Raf Simons’s Vision for Dior Is Clear
The World’s Easiest Way to Highlight Your Face
A Pregnant Supermodel Explains What She Eats
Michelle Obama: No Boy Is Cute Enough to Keep You From Getting an Education
Meet the Prom Queen of Instagram
Sleater-Kinney on Riot Grrl, Reuniting, and Portlandia
Selfie Sorority Uses Media Frenzy for Good Cause
Guess Who Renovated This Grand Upper West Side Penthouse
From Our Partners
Jewelry Hunting: Black Friday 2015
5 Best Sex Positions to Practically Guarantee an Orgasm
The Fashion Spot
New Study Says People Think Better of You When You Wear Black
15 Signs You're With A Good Man
powered by PubExchange
The Cut’s Latest Fashion FeaturesCéline’s Woman-Friendly Triumph
Phoebe Philo remains in touch with what women want to wear.Watch the Akris Livestream
Enjoy!From Up Close, Raf Simons’s Vision for Dior Is Clear
And don't count John Galliano out at Margiela yet.5 Things I Want to Wear From Paris: Part 2
Cropped sweaters, a spangled skirt, and more.Jaden Smith and Kesha Partied This Week
Along with Cindy Crawford, Anjelica Huston, Rita Ora, and Lena Dunham.Kendall Jenner and Gigi Hadid Partied in Balmain
Plus: more highlights from Paris Fashion Week's parties, including Jared Leto.See All the Street Style From Paris Fashion Week
Featuring wooden platforms, velvet robes, and floor-length ponchos.Who Won Best-Dressed at Milan Fashion Week?
Another city, another people's choice Peacock.See Our Exclusive Portfolio From Paris Fashion Week
Photographer Tomasz Lazar's latest dispatch from Fashion Month.Style Smackdown: Olivia Pope vs. Cookie Lyon
Judging the best looks from this week's episodes.
Gymnast models symbolizing "women supporting women" wore mature yet spontaneous looks.Grace Jones Is Having the Wildest Book Tour Ever [NSFW]
She flashed crowds at her signing in New York.Tom Ford and Lady Gaga Turn the Runway Into a Disco
The designer is showing his newest collection in a video.All About Dior’s Spring 2016 Show
Rihanna, lavender walls, and pointy flats.Cecilia Dean on Her Latest Immersive Fashion Project
A downtown art event with DVF and Proenza Schouler.Dior Built a Huge Flower Wall for Its Show
Just breathe that in.The Selfie-Stick Fashion Generation
Today’s young designers focus too often on their feelings.Rick Owens Dressed Models in ... Other Models
Harnesses were involved.And Now, Celebrity Wax Figures Dressed in Lederhosen
And other Austrian garb. It's Oktober!Nicki Minaj Has the Most-Liked Photos From MFW
And other tidbits from Instagram.