Aufeminin.com : Acquisition de MyLittleParis
PR Newswire/Les Echos/
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Press release
Paris, 20 November 2013
Acquisition of MyLittleParis
aufeminin.com has acquired 60% of MyLittleParis, the French company behind a
one million-strong online community of female readers that started out as a
confidential newsletter between friends. Every day, My Little Paris sends its
subscribers inspirational and surprise ideas and addresses.
Within a short time the group rolled its concept out to other cities (Paris,
Lyon, Marseille) and introduced new themes (Wedding, Kids, and Merci Alfred on
the men's market). The business model incorporates ultra-integrated advertising
formats and e-shopping through monthly subscription to "MyLittleBox".
The merger offers synergies between the activities, giving aufeminin.com access
to a peer base through which it can grow its readership, and a footing in the
high value-added e-shopping universe.
Fany Péchiodat, founder and chairwoman of MyLittleParis, says of the
transaction:
"I am delighted to continue our adventure with MyLittleParis with backing from
aufeminin.com's teams and its media expertise. Drawing on our combined
strengths we can continue growing both in France and internationally while
maintaining the intimate approach and high standards that led to the success
of My Little Paris.
As an entrepreneur, I'm very happy that the five partners I started out with
will remain on board in this new leg of our journey. We share the same vision:
that through the web we can be traditional yet innovative, small yet global,
high tech yet "homemade". This is what motivates our team on a daily basis and
is the essence of what I aim to continue inspiring in them."
MyLittleParis success story
In 2008, Fany Péchiodat sent her first newsletter to 50 friends: her idea was
simple but the concept was strong, incorporating a quirky address, an acerbic
tone and hand- made illustrations. Within six months, solely through word of
mouth, the newsletter had 10,000 subscribers. Fany Péchiodat saw this as a
turning point from which she embarked on her enterprise and brought five
partners on board.
Business choices had to be made quickly: expansion solely through
word-of-mouth, a firm refusal to sell their database, and complete transparency
with regard to subscribers concerning the business model. Brands are integrated
into the MyLittleParis universe through an innovative and exclusive advertising
format involving partner e-mail addresses.
MyLittleParis also introduced a postal component involving subscription to its
monthly "MyLittleBox" offering. Today more than 70,000 women receive a box by
post every month containing surprise and beauty products.
With a headcount today of around 40, the company has seen rapid growth and from
the outset has been making a profit. Revenue has strongly increased each year:
EUR2.7 million in 2011, EUR8.3 million in 2012, and is set to exceed
EUR14 million in 2013.
Strategic synergies
The merger between aufeminin.com and MyLittleParis offers significant
synergies, notably in the following areas:
- international roll-out: MyLittleParis can use aufeminin.com's network to
speed up its development outside of France, which has recently started
with the successful launch of the box business in Japan;
- shared know-how: MyLittleParis has access to aufeminin.com's expertise to
optimise its referencing system and increase its audience. In turn,
aufeminin.com stands to benefit from the creative vision of MyLittleParis's
teams. In the area of advertising, the companies can combine their fire
power and inventory to service partners while maintaining their own
specific approach.
- innovation: Drawing on MyLittleParis's approach to innovation (worldwide
spotter network) and aufeminin.com's research lab (womenology),
MyLittleParis and aufeminin.com are launching a joint innovation centre.
Marie-Laure Sauty de Chalon, CEO of aufeminin.com remarks on the deal:
"We are very happy to be teaming up with the prodigious MyLittleParis. Thanks
to their strong positioning, Fany and her team have created a powerful brand
that has won over aufeminin.com. MyLittleParis is a gem in the internet sector.
We firmly believe we can help it turn another corner while preserving its
independence and creative and entrepreneurial culture. For our part, we get a
foothold in the universe of e-shopping."
Details of the transaction
aufeminin.com immediately acquires 60% of MyLittleParis's shares, subject to
conditions, for an undisclosed amount. The remaining stake will be acquired in
two successive stages:
- 10% in 2015 for a cash amount based on EBITDA growth;
- the remaining 30% in 2017/2018 mainly in the form of aufeminin.com shares.
Fany Péchiodat will continue to run the company alongside her partners,
Amandine Péchiodat, Kanako Kuno, Anne-Flore Brunet, Bruno Vuillier and Céline
Orjubin. Fany will join aufeminin.com's board of directors subject to approval
by the AGM.
MyLittleParis's accounts will be consolidated with those of aufeminin.com from
1 January 2014.
Next publication scheduled for 21 January 2014: 2013 revenue
About aufeminin.com
The aufeminin.com Group is 82.25%-held by the Axel Springer Group, and is the
world's leading publisher of websites for women with 42.7 million individual
site visitors per month worldwide(1), and 12.3 million individual visitors per
month in France(2). It operates in France, Germany, Austria, the United
Kingdom, Belgium, Spain, Italy, Poland, Switzerland, Canada, Morocco, Tunisia
and Vietnam.
The aufeminin.com Group has an editorial and community-based offer covering the
themes preferred by women: Fashion, Baby, Beauty, Shopping, Cooking, News,
Society, etc. This offer is available on all media: websites, mobile phones,
tablets, TV and print.
Smart AdServer develops and markets premium ad serving solutions for media
agencies and publishers to manage display campaigns for web, mobile and
iPad/tablets. Smart AdServer currently has 350 clients across four continents.
The Group generated EUR55 million in revenue in 2012 and is listed in
compartment C of NYSE-Euronext Paris