Amazon is to acquire Madrid based BuyVIP.com, a fashion and lifestyle online buying community with more than 6M members in Spain, Germany and Italy. BuyVIP offers members time-limited campaigns from top fashion and lifestyle brands at low prices, generally 30 to 70% below the retail price..
BuyVIP was founded in 2006 with the launch of its German and Spanish websites at the same time. It is rumoured the price paid is somewhere between $60M and $80M. The transaction is expected to close in Q4.
Source: Press Release
USA, San Francisco, CA