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KupiVIP Has New Minority Investor in Direct Group

Posted Wed, 01/07/2009 - 21:32

KupiVIP.ru, the Russian online shopping club has a new minority investor in Direct Group, the market expansion firm headed by Pascal Clément. As part of the deal, whose financial details have not been disclosed, Clément will be given a seat on KupiVIP.ru’s Board. Direct Group plans to bring the same industry expertise it utilized in previous portfolio company Ozon.ru, to the table at KupiVIP.ru, hoping to gain up to 3% of the market within the next few years. Other KupiVIP.ru investors include Mangrove Capital Partners, Arlan and ABRT Fund.

KupiVIP (www.kupivip.ru)
KupiVIP is a private shopping club that allows members to buy world famous brand merchandise with up to a 70 percent discount. Each applicant to the club must be referred by an existing member and the merchandise collections are limited to a three day time period.

Direct Group
Direct Group bills itself as a provider of "Market Expansion Services" to business all across Russia. The company has been operating for fifteen years combining market research, HR management, IT services, financial and legal services, logistics, and operational management to provide customized service to its clients and partners. The group focuses its activities on the agriculture, internet, financial services, logistics, real estate, and retail sectors.