Amazon.com, Inc. announced that it has signed an agreement to acquire fashion and lifestyle online shopping community BuyVIP.com. The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in the fourth quarter of this year.
“BuyVIP.com is an excellent complement to Amazon’s European business and will provide another unique way for Amazon customers to find and discover unique and compelling products,” said Greg Greeley, Vice President European Retail at Amazon.
“We are excited about joining the Amazon family and believe doing so will help us further grow our presence in Europe and allow us to offer our members an even broader selection of high-quality products,” said Gustavo Garcia Brusilovsky, CEO of BuyVIP.com.
BuyVIP.com was founded in Madrid in 2006 and launched both its German and Spanish websites in the same year. Today, it has more than six million members in countries including Spain, Germany, Italy, Austria, the Netherlands and Portugal. Over 500 brands are offered, generally 30 to 70% below the regular retail price during a limited period of time.