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Just three years after acquiring a stake in The Bradery, Showroompriv\u00e9 is already selling its 52.75% stake in Symmetric, the company that owns the premium private sales platform, to its two founders and CEOs, Timoth\u00e9e Linyer and Edouard Caraco. Founded in 2018, The Bradery offers high-end lifestyle products (fashion, beauty, lifestyle, experiences, travel, etc.) through flash sales.<\/p>\n
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Showroompriv\u00e9, the French specialist in event sales, announced in a press release on Monday, December 22, that it had finalized the sale of the French start-up for a cash payment of \u20ac19 million.<\/b><\/p>\n
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But that’s not all! The seller will also benefit from earn-outs conditional on The Bradery achieving certain performance targets, calculated on the basis of EBITDA for 2027, 2028, and 2029.<\/p>\n
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Showroompriv\u00e9 emphasizes that \u201cthis transaction represents the realization of significant value creation<\/b>\u201d that it has achieved \u201csince acquiring a stake in The Bradery in 2022\u201d for approximately \u20ac10.2 million.<\/p>\n
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The earn-out mechanism will also enable Showroompriv\u00e9 to \u201cremain associated with the continued value creation of The Bradery\u201d in the years to come.<\/p>\n
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Reflecting a mutual commitment by both partners, a support agreement has also been signed to provide, until the end of 2028, \u201cassistance from the founders of The Bradery in supporting the SRP Group\u201d (owner of Showroompriv\u00e9, editor’s note) \u201cin key areas such as technological transition and digital<\/b> marketing.\u201d<\/p>\n
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The transaction also includes the establishment of a vendor credit facility of \u20ac3 million,<\/b> repayable in three equal annual installments in 2027, 2028, and 2029, as well as a dividend advance of \u20ac1 million already received.<\/p>\n
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Showroompriv\u00e9<\/b> is offloading at just the right time.<\/p>\n
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The company has certainly experienced rapid growth since its creation in 2006 by Thierry Petit and David Dayan, who continues to run it.<\/p>\n
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It now offers \u201ca daily selection of more than 3,000 partner brands<\/b> on its mobile apps and website in France and six other European countries<\/b>.\u201d Listed on the Euronext Paris<\/b> market (code: SRP), it employs more than 1,100 people.<\/p>\n
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But its pace has slowed in a more challenging fashion market. After strong results and peak revenue<\/b> (\u20ac724 million) during the pandemic and post-COVID in 2020 and 2021<\/b>, Showroompriv\u00e9 posted more modest performances in 2022 and 2023<\/b>. And in 2024<\/b>, it was even hit by a significant loss<\/b> of close to \u20ac40 million, with revenue down 4.5%<\/b> to around \u20ac650 million (for a gross business volume of nearly \u20ac1 billion including tax).<\/p>\n
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And its 2025<\/b> financial year is proving even more complicated, with revenue down by around 12.2%<\/b> to \u20ac392.3 million.<\/p>\n
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For its part, The Bradery<\/b> is therefore returning to the fold of \u00c9douard Caraco and Timoth\u00e9e Linyer. It is now up to its founders to continue the success story of the platform, which has been put back on track by Showroompriv\u00e9.<\/p>\n
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Since its acquisition, The Bradery has returned to profitability, with sales jumping +190% to \u20ac62.9 million between 2022 and 2024. In the first nine months of 2025, its sales grew further, with gross merchandise volume up by almost 19% to around \u20ac73 million (compared to around \u20ac50 million at the time of its acquisition). The platform brings together a community of more than 400,000 buyers.<\/p>\n
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