SHOWROOMPRIVE - Corporate Presentation - Groupe Showroomprivé
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SHOWROOMPRIVE
January 2021
Corporate Presentation
01
SRP GROUPE
AT A GLANCE
CURATED & SOCIAL SHOPPING EXPERIENCE FOR
DIGITAL WOMEN
6TH E-COMMERCE PLAYER & 2ND FAVORITE FOR
BEAUTY FLASH SALES IN FRANCE1
LEADER IN THE BEAUTY SEGMENT WITH
BEAUTÉPRIVÉ, OUR ONLINE BEAUTY PURE-PLAYER
MOBILE-FIRST AUDIENCE WITH 82% OF MOBILE TRAFFIC
MORE THAN 3,000 ESTABLISHED & UP-AND-COMING
BRANDS SOURCED IN FRANCE, SPAIN, & ITALY
STRONG VALUES DEMONSTRATED BY SEVERAL
INITIATIVES WITHIN OUR MOVE FORWARD PROGRAM
2.8M 10.3M 34M ~€851M 7 80% 79%
AVERAGE CUMULATIVE ITEMS SOLD TOTAL GMV2 COUNTRIES REPEAT BUYERS BRAND
DAILY VISITS BUYERS ANNUALLY AWARENESS4
S O U R C E S 2019 FILINGS, UNLESS SPECIFIED OTHERWISE
NOTES
1 MÉDIAMÉ TRIEX FEVAD 2019 & KANTAR TEXTIL PANEL 2019
2 GROSS MERCHANDISE VOLUME (“VOLUME D’AFFAIRE OR GMV”) REPRESENT, ALL TAXES INCLUDED THE TOTAL AMOUNT OF TRANSACTION INVOICED AND THEREFORE INCLUDE GROSS INTERNET SALES INCLUDING SALES ON THE MARKETPLACE, OTHER
SERVICES AND OTHER REVENUES. €851M INCLUDE €822M ONLINE AND €29M OFFLINE. AS OF 31-DEC-2019
3 MEMBER BASE OF LAST 3 YEARS, EXCLUDING BEAUTÉPRIVÉE
4 YOUGOV 2019 FIGURES
% OF ONLINE BUYERS PURCHASING ON E-COMMERCE SITES (ALL CATEGORIES, EXCL. TRAVEL), 2019A1
54%
27%
18%
14%
11%
10%
10%
9%
9%
8%
NOTES
1 SOURCE: MEDIAMETRIE 2019, IN % OF FRENCH ONLINE BUYERS THAT ACQUIRE ON THESE SITES (DOES NOT SUM TO 100%)
STRONG ABILITY TO RECRUIT AND CONVERT BUYERS STRONG MOMENTUM OVER 20201
9.2M 9.4M 9.5M 9.8M 9.9M 10.1M 10.3M
300
250 236
+7.5% NPS
49
229
y-o-y
(+23%)
>13M
200 REVENUE ORDERS
182 181 96 92 PER BUYER November
167
155 2020
54 56
150 135
68
58
47
100
140 137 +
128 126
50 97 99
88
> 2.6M > 10.3M 80%
NUMBER OF CUMULATED REPEAT
0 BUYERS BUYERS BUYERS
Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020
x # Cumulative Buyers Repear Buyers New Buyers
S O U R C E S COMPANY FILINGS
NOTES
1 YTD SEPTEMBER 2020 FIGURES UNLESS OTHERWISE STATED
HIGH ABILITY TO CONVERT NEW MEMBERS INTO A SIGNIFICANT SHARE OF FIRST-TIME BUYERS
BUYERS REGARDLESS OF COVID-19 BECOME REPEAT BUYERS
% CONVERSION OF MEMBERS SUBSCRIBED IN APRIL INTO BUYERS % CONVERSION OF FIRST TIME BUYERS IN APRIL INTO REPEAT BUYERS
40% 80%
35% 70%
30% 60%
25% 50%
20% 40%
15% 30%
10% 20%
5% 10%
0% 0%
0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44
# OF MONTH THAT APRIL NEW MEMBERS CONVERT INTO BUYERS # OF MONTH THAT APRIL FIRST TIME BUYERS REPEAT PURCHASES
Apr-17 Apr-18 Apr-19 Apr-20 Apr-17 Apr-18 Apr-19 Apr-20
Despite the acceleration of the e-commerce penetration triggered by SRP members are converted more quickly both in numbers and in
the sanitary crisis, we have improved our customers cohorts significantly percentage and become more quickly repeat buyers
SRP outperformed its market by converting significantly more and Significant improvement in converting buyers into repeat buyers,
quickly its new members registered in April into buyers vs. any other year confirming the e-commerce acceleration
S O U R C E S COMPANY FILINGS
LONG TERM AND SUCCESSFUL
STRONG BRAND LOYALTY AS WITNESS BY A LOW DEVELOPPING OUR NETWORK WITH A GREATER
CHURN LEVEL1 FOCUS ON MORE PREMIUM BRANDS
Top 20 2019-20 Partner brands 2018-19 Partner brands
in 2020 Revenue growth2 in 2019? Revenue growth2 in 2018?
Supplier A
Supplier B
#1
#2
88%
166%
10%
19%
NUMBER OF > 2,000 > 3,000
Supplier C #3 11% 25%
NEW BRANDS In 2019 In 2020
Supplier D #4 353% 34%
Supplier E #5 56% 3%
Supplier F #6 103% 10%
Supplier G #7 379% - Greater selectivity
Supplier H #8 39% 8%
Supplier I #9 (8%) 167% NEW BRANDS More premium
Supplier J #10 1% (21%) RECRUITMENT Dedicated prospection unit
Supplier K #11 23% (17%)
Supplier L #12 (36%) (29%)
Foster long term partnerships
Supplier M #13 43% 10%
Supplier N #14 167% 65%
Supplier O #15 36% (13%)
Supplier P #16 (21%) 620% New Brands represented 7.5% of Total
Supplier Q #17 100% (26%) Q3 2020 Revenue
Supplier R #18 - -
Supplier S #19 60% 135% Brands with high potential as a
Supplier T #20 180% 920% KPIs number of them already integrated
In 2020, all the top 20 suppliers are loyal and repeat brand partners our Top 100 brands
Showroomprivé drastically helped them grow their unsold items year after year Premiumisation led to an increase in
As of YTD Sep 2020, the top 20 suppliers grew their revenues by c.58% y-o-y and average basket size
by 16% over the period 2018-2019
NOTE
1 AS PER REVENUE (EXCL VAT) AS OF YTD SEPTEMBER OF EACH YEAR .
2 Y-O-Y GROWTH
OUR 360° PLATFORM
FLASH SALES SRP STUDIOS
CONDITIONAL SALE CREATIVE DIRECTION
DROP SHIPPING PHOTO STUDIOS &
PRE-DELIVERY SHOOTING
srp-studios.com
FIRM SALE
showroomprive.com
SRP MEDIA SRP
TRADE MARKETING
DATA
MARKETPLACE
ALLOW BRAND PARTNERS TO
MEDIA SELL CURRENT COLLECTIONS
DRIVE TO STORE GREATER PRODUCT ASSORTMENT
SAMPLING ENABLE LOCAL SALE
srp-media.com
LIMIT CARBON EMISSIONS BY
REDUCING TRANSPORTATION
OUR
REVENUE BREAKDOWN
2018 2019 2020
FIRM SALE
DELIVERY IN 24 -48 HOURS TO OUR CUSTOMERS
SH ORT DELIV ERY TIME
26% 20%
SRP OW N INV ENTORY
Speedy execution and satisfying customer service
DROP & SALE
DELIVERY IN 24 -48 HOURS AS STOCK READILY AVAILABLE
SH ORT DELIV ERY TIME
6% 6%
NO INVENTORY RISK
Speedy execution and satisfying customer service with no financial risk
DROP-SHIPPING
RAPID DELIVERY ENSURED BY OUR PARTNERS
SH ORT DELIV ERY TIME
8% 14%
OPTIMIZED LOGISTICS COSTS
No inventory risk
CONDITIONAL SALE
DELIVERY WITHIN 3 WEEKS TO OUR CUSTOMERS 60% 60%
OPTIMIZATION OF OU R INV ENTORY LEV ELS
NO DELOTAGE (SPLITTING PACKS FOR INDIVIDUAL SALE )
Share of revenue from firm expected to
decrease, while increase in drop -shipping
share of revenue has positive impact on
SRP’s margins and on customer satisfaction
OPTIMIZED AND SCALABLE
LOCAL SOURCING CAPABILITIES & ROBUST LOGISTICS NETWORK ASTROLAB: A HIGHLY SCALABLE WAREHOUSE
8 13m
WAREHOUSES ORDERS SHIPPED
PER YEAR
FRA N CE
8 W AR EHOU SES
COV ER ING THE WHOLE
TER R ITOR Y
ITA LY 8
S P A IN
• Astrolab is SRP's fully automated 15,000 m² warehouse opened in
December 2019 to optimize its supply chain
OTHER C OU NTR IES
AD D R ESSED V IA 3 - PL • €15m investment over the two-year development project
PAR TNER S • Highly scalable logistic system with objective to process 4-6m
orders on a run rate basis
• Target €4m cost savings in a full-year effect
S O U R C E S COMPANY WEBSITE, PRESSREASONS BEHIND OUR IMPACT STRATEGY
ESG is a key concern for BtoB partners, clients, shareholders, and employees
ESG has been at the core of our identity:
Our purpose is to give a second chance to unsold items (14m units in 2020 alone)
We have supported innovation and empowerment for the last five years through our Look
Forward Incubator (>69 startups incubated and >600 jobs created)
We fund an e-commerce school in Roubaix that has reintegrated 120 unemployed people
(69% women, 35% from poor neighborhoods) into the workforce
SUMMARY OF KEY ACTIONS
We have addressed our customers’ growing appetite for eco-friendly products by sourcing
a growing number of ESG compliant brands
We have also created a dedicated “Move Forward” tab on our website homepage
Brands that show commitment to a cause benefit from a specific and differentiated
promotion on our website
As ESG is part becoming part of ShowroomPrivé’s DNA, a number of measures has been
taken to promote ESG values within our organisation
Promotion of gender equality in professional life
Support of an e-commerce school to help underprivileged candidates transition to
digital professions
Shift of business model towards drop-shipping and creation of a marketplace fostering
the reduction of carbon emissions
A new brand campaign has been launched to promote our message and positioning
(“Responsable de votre plaisir”)02
A SUCCESSFUL
TURNAROUNDSRP’S GROWTH JOURNEY
1 2018 – 2020: PERFORMANCE PLAN
L au nc h o f 2 0 1 8 – 2 0 20 p e r f o r m anc e p l an t o r e f o c u s m o d e l o n
profitable segments
Net CAGR
Revenue R e c r u i t m e nt o f e x p e r i e n c e d s e n i o r m a n a g e m e n t t a l e n t ( no t ab l y ne w
15% CF O & CO O )
(€m)
N e w c o m m e r c i a l o r g a n i z a t i o n r e i nf o r c i ng b r a n d p r o s p e c t i o n a n d
s o u r c i n g a c r o s s E u r o p e whi c h has no t y e t r e ac he d i t s f u l l p o t e nt i al
672
655
I m p l e m e nt at i o n o f b u s i ne s s m o ni t o r i ng b as e d o n m ar g i n r at he r t han
616 r e v e nu e and s t r e n g t h e n e d I T b a c k b o n e
CAGR R e c ap i t al i s at i o n v i a c ap i t al i nc r e as e s b ac k e d b y f o u nd e r s
33% 540
2015 – 2017: MARKET SHARE EXPANSION EFFORT
443
G e o g r a p h i c e x p a n s i o n i nt o ad d i t i o nal E u r o p e an c o u nt r i e s
350 A c q u i s i t i o n o f S a l d i P r i v a t i i n I t al y ( 2 0 1 6 )
E x p a n s i o n o n b e a u t y v e r t i c a l wi t h ac q u i s i t i o n o f B e a u t é p r i v é e ( 2 0 1 7 )
257 465 L o g i s t i c s and i nt e r nal o r g ani s at i o n i s s u e s
As of
Q3 R e v e nu e g r o wt h at t he e x p e ns e o f p r o f i t ab i l i t y
187 2020
O v e r l y ag g r e s s i v e p r i c i ng p o l i c y and l ac k o f m o ni t o r i ng
2012 – 2014: RAPID GROWTH
30% annual sales growth
Fashion flash sales
2012 2013 2014 2015 2016 2017 2018 2019 2020e
I n t e r n a t i o n a l e x p a n s i o n t o Po r t u g al , B e l g i u m , I t al y , Po l and , & t he
N e t he r l and s ( 2 0 1 3 )
C umul. 2.2m 3.2m 4.3m 5.5m 6.8m 8.0m 9.0m 9.8m 10.3m 1 I P O o n E u r o n e x t P a r i s (2 0 1 5 )
buyers m 2 4 - ho u r d e l i v e r y l au nc he d ( 2 0 1 2 )
NOTES
1 COMPANY FILINGS; LATEST BROKER ESTIMATE (ODDO) FORECASTS €690M REVENUE FOR FY2020SUCCESSFUL IMPLEMENTATION OF
SHOWROOMPRIVÉ IS REAPING THE REWARDS OF SUCCESSFULLY EXECUTING ITS PERFORMANCE PLAN,
WITH HEALTHY GROWTH AND A RETURN TO SOLID PROFITABILITY
REORGANISATION OF OUR REORGANISATION OF OUR IMPROVEMENT OF
1 2 3
o New commercial team organisation around o Recruitment of a new CFO focused on internal o Recruitment of a new COO with solid
dedicated new strategic brand prospection and control: François de Castelnau (ex-GiFi) experience: Hakim Benmakhlouf (ex-Amazon)
key accounts o Rationalisation and improvement of
o Cost optimisation: reduction of wage bills /
o Sales monitoring focused on contribution total cost structure operational performance:
margin, greater sales selectivity, and limited o Contract renegotiation with partners
firm sales o Efficiency gains and improved cost monitoring
focused on business performance and o Refocus on core business leading to an
o Efficient management of international exit of unprofitable geographies
operational excellence
accounts and of two sourcing offices in Spain
and Italy o Astrolab ramp up: in-house warehouse with
o Focus on day-to-day monitoring and
high level of automation
o Rigorous rationalisation of offer, leading to optimisation of processes
o Drop-shipping ramp-up
higher quality and more premium positioning o Refinancing in early 2020 extending debt
maturity to 2026 with first repayment occurring o New measures to improve management of:
o Development of new bundled merchandising
in 2022 o Return conditions and management
solutions
o Successful recapitalisation with 2 capital o Inventory management
o Strong development of SRP Media in the
increases underwritten by founders o Shipping margins (e.g. change in infinity
proposed offering
program, increased charges for returns)2019 VS. 2020 –
QUARTERLY REVENUE TRAJECTORY, 20201 HALF YEAR EBITDA TRAJECTORY, 2019-20
€ million € million
(20%) 19% 30% >13%
1 >23
>225
185 Breakeven before
162
exceptional costs
118 7
H1 2019 H2 2019 H1 2020 H2 2020E
(11) (8)
Q1 Q2 Q3 Q4
(12)
X%
% Year-on-year growth Expected revenue
Exceptional depreciation impact EBITDA
SRP posted strong performance over Q2 2020 (+19%) and Q3 2020 (+29.6%) Net Revenue Successful repositioning of the product offer carried out in 2019 and early 2020:
growth YoY driven by: higher-quality and more premium positioning
Revenue growth YoY on SRP Internet sales as well as a strong year-on-year This boosted the average basket size and revenue per buyer
performance from Beautéprivée
Implementation of the Performance Plan as described in the document
Total internet revenues, which represent the Group’s main activity (99% of total revenues),
posted an increase of 31.2% YoY over Q3 2020 Exceptional activity in October 2020 and record activity November 2020
Travel & Ticketing activity was slow in Q2 2020, picking up slightly during Q3 2020 (while Revised guidance of FYE 2020 EBITDA announced in December of over €30m from
remaining sluggish vs. 2019) close to €20m as announced during the Q3 2020
S O U R C E S COMPANY FILINGS
NOTES
1 Q4 2020 COMPUTED ACCORDING TO LATEST BROKER ESTIMATE (ODDO) FORECASTS €690M FOR FY2020,FOCUS ON
MARKET SHARE – FLASH SALES IN FRANCE, 20201
%
S O U R C E FOXINTELLIGENCE
NOTES
1 MARKET SHARE IN VOLUME FROM 01/01/2020 TO 15/11/2020 FOR TOTAL FRENCH MARKET (FOXINTELLIGENCE MEASURES
ACTIVITY OF E-COMMERCE BUSINESSES BASED ON CONFIRMED PURCHASES BY 2.7M ANONYMIZED EUROPEAN CONSUMERS,
OF WHICH 1.2M IN FRANCE)TOP MANAGEMENT
S A R A H D U PO N D AURELIE
L E GA L & H R BOUVART
D I R E CT O R MA R K E T I N G &
DAVID DAYAN & THIERRY PETIT F R A N CO I S d e
SRP MEDIA
CO-FOUNDERS & CO-CEOS CA S T E L N A U
BRIAN BEUNET D I R E CT O R
CH I EF F I N A N CI A L
SALES
O F F I CE R
F A CT O R Y
D I R E CT O R
FREDERIC HAKIM SYLVIE CHAN
S T E PH A N
DELALE BENMAKHLOUF DIAZ
PL O U J O U X
CHIEF GR O U P STRATEGY &
CH I E F
INFORMATION O PE R A T I O N S CORPORATE
CO M M E R CI A L
O F F I CE R D I R E CT O R DEVELOPMENT
O F F I CE RThank you
Appendix
BEAUTÉPRIVÉE:
RECOGNIZED BY INDUSTRY PEERS TOP FRENCH ONLINE PURE PLAYER
#1
O N LIN E P URE -P LA Y ER IN B EA UTY & HEA LTH
S ILVER MED A L - FA VO URITE B EA UTY E -MERCHA N T E-CO MMERCE IN FRA N CE 1
(D IGITA L P URE -P LA Y ERS & O FFLIN E P LA Y ERS
A LIK E)
UNIQUE REACH IN DIGITAL BEAUTY HIGH CUSTOMER SATISFACTION
~1,000 ~95% 96%
A CTIVE B RA N D S B EA UTY O F THEIR 7M CUS TO MERS (O F WHICH 90% A RE
~8M ~5%
WO MEN & 40% LIVE IN P A RIS ) A RE S A TIS FIED
MEMB ERS WELLN ES S
ATTRACTIVE, LOW-RISK MODEL TIER 1 DIGITAL KPIs
HIGH LEVEL O F REP EA T B US IN ES S
LO W RA TE O F P RO D UCT RETURN
~70% ~50%/~50%
REP EA T B UY ERS FLA S H S A LES /
N EA R-Z ERO IN VEN TO RY P O LICY P ERMA N EN T S A LES
CO MP LEMEN TA RY TO S RP ’S O FFER
AVG. BASKET ~27%
HIGH CUS TO MER S A TIS FA CTIO N IN L IN E WITH RE S T O F
2016-19
S RP GRO UP
CA GR
NOTES
1 MEDIAMETRIE
2 SOURCE: MÉDIAMÉ TRIEX FEVAD 2019 & KANTAR TEXTIL PANEL 20191 ENVIRONMENTAL SUSTAINABILITY
• Reduction of our carbon footprint with further development of drop-shipping and the
creation of SRP Marketplace
• Promotion of low-carbon transportation for employees
3 CORE COMMITMENTS AT THE • Implementation of a zero-waste policy
HEART OF OUR GROUP DNA SINCE • Reduction of packaging
• Long-term partnership with Plastic Odyssey to help reduce plastic waste
THE BEGINNING SRP’s dedicated page for shopping eco-
• Eco-friendly brands & products on dedicated Move Forward page of SRP website
friendly brands & products
2 INCLUSION
• Support of an e-commerce school to help underprivileged candidates transition to
digital professions
• Working on making our website fully accessible to handicapped customers (with
Facil’iti, a former incubated start-up in our look Forward Program)
• Sponsorship of organisations fighting poverty and exclusion (Emmaus, Fondation
Abbé Pierre) as well as charity events with brand partners
• Solidarity during Covid crisis, with over €100k raised for French hospitals and €70k
raised for UNICEF SRP’S e-commerce school
3 WOMEN’S RIGHTS
• Encourage women towards digital professions via SRP’s e-commerce school
Secretary of State for the Digital Economy,
Cedric O, at the launch of Move Forward with • Financial support of organizations supporting women: Toutes à l’Ecole, UNICEF, and
SRP’s founders Odys
• Support menstrual health & safety via donation for menstrual hygiene products
• Feature more diverse range of women within SRP marketing campaigns
• Regular internal meetings to promote gender equality in professional life Toutes à l’école, which operates a school
for poor girls in Cambodia
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