Veepee to close UK business due to Brexit uncertainty
The flash sales platform, formerly known as Vente Privee, is shutting down its business in the United Kingdom, where it has been operating for 11 years.
Veepee shrinks down. The flash sales platform, formerly known as Vente Privee, is shutting down its business in the United Kingdom, where it has been operating for 11 years, due to the uncertainty of Brexit, according to Drapers.
“The uncertainty surrounding member status of the UK in the EU has taken its toll on our ability to maintain the high-quality standards we demand of ourselves for our ecommerce business in the UK,” stated a spokesperson of the company.
The French company, specialized in selling stock from previous seasons online, ended its fiscal year 2018 with a revenue of 3.7 billion euros, 12% more. At the beginning of this year, the group changed its name to Veepee, merging all its platforms, excluding Privalia, under the same name.
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