Amazon.com said today it has reached an agreement to purchase Spanish Internet retailer BuyVip.com for $96.5 million.
BuyVip is a fashion and lifestyle online buying community with more than six million members in countries including Spain, Italy, Germany, Austria, the Netherlands and Portugal.
Members of BuyVip can participate in sales that run for a limited time and involve limited quantities of fashion products from over 500 brands including Tommy Hilfiger, Converse, Timberland, Pepe Jeans, and Calvin Klein. Members can purchase items for 30 to 70 percent below retail sales prices.
“BuyVIP.com offers their members an exciting selection of top fashion and lifestyle products at extraordinarily low prices,” said Greg Greeley, vice president European Retail at Amazon.
“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.”
The purchase is expected to be completed in the fourth quarter.