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Crédit Agricole Private Equity invests in Adamence
Adamence, French leader in online jewellery, has finalised a second round of financing, amounting to 2.4 million euros and led by Crédit Agricole Private Equity, which invests 1.8 million euros. Aurinvest Capital and some of the company's business angels are supporting the deal, contributing 600,000 euros.
Established in 2005, Adamence is a pioneer in online jewellery sales. Thanks to its access to and control of goods and manufacturing, Adamence offers a wide product range while remaining competitive on price. The company's growth was historically based on the sale of diamond jewellery. It gradually expanded its offering and now provides a full range of premium jewellery (diamonds, coloured gemstones, pearls, jewellery for men). The website also offers the option for customers to create their own compositions, to obtain fully personalised jewellery.
In 2010, the company launched its designer marketplace, bringing in prestigious brands such as Vanessa Tughendaft, Louis-Edouard Lejeune and Hornica.
Based in Place Vendôme, Paris, the company achieved sales of 2.3 million euros and attracted 1.7 million visitors to its website in 2010.
This new round of financing will enable the company to reinforce its positions in the French market and strengthen its team and marketing strategy.
François-Xavier Dedde, Investment Manager in Crédit Agricole Private Equity's Venture Capital team, commented: "Jewellery is one of the last areas to enter e-commerce, and we are convinced of the opportunity offered by convergence of these two strongly value-creative markets. We particularly appreciate the quality of the team and the complementarity of their experience, which have enabled them to develop a premium range and quality customer service."
Alexandre Murat, Chairman and Founder of Adamence, added: "Collaborating with Crédit Agricole Private Equity has opened up great opportunities for us. In five years, we have established ourselves as the pioneer in this segment in France. We will now be able to further strengthen our position and our teams, expand our offering and extend our influence to other countries that we entered last year."
Adamence's development reflects the evolution of the consumer market, driven by new practices such as electronic commerce. NICT (new information and communication technology) is one of Crédit Agricole Private Equity's investment sectors and represents a cornerstone for the industries of the future.