Crédit Agricole Private Equity invests in Adamence

Crédit Agricole Private Equity invests in Adamence
Friday, April 29, 2011

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.

Crédit Agricole Private Equity
François-Xavier Dedde, Investment Manager, Venture Capital, Crédit Agricole Private Equity

Advisors

Legal advisors, Crédit Agricole Private Equity: Chammas & Marcheteau (Lola Chammas, Géraldine Vignat, Béatrice Mirabel)
Legal advisors, Adamence: Pinot de Villechenon & Associés (Morgan Hunault-Berret, Alice Laroque, Paul Albert Legrand)
Financing advisors: Euroland Finance (Cyril Temin, François Chauvel)
Due diligence Crédit Agricole Private Equity: Ernst & Young TS (Emmanuel Picard, François Poncet, Chloé Launois)

Press contacts

Martine Sessin-Caracci, martine.sessincaracci@ca-privateequity.fr, +33 (0)1 43 23 90 88
Solvit Communication for Adamence, contact@solvitcommunicatio.fr, +33 (0)1 42 61 24 63

About Crédit Agricole Private Equity

Crédit Agricole Private Equity is an AMF-accredited asset-management subsidiary of Crédit Agricole, specialising in direct private-equity investment in non-listed companies. A multi-specialist player, Crédit Agricole Private Equity’s team of 100 professionals manages €3.3 billion with specific expertise in LBO & Expansion, Venture Capital, Mezzanine, Co-Investment, Renewable Energy and PPP Infrastructure. The 11-strong venture capital team manages €470 million through FCPIs invested in young companies with high growth potential in 2 sectors: information technology and life sciences. Crédit Agricole Private Equity has signed up to the United Nations’ Principles for Responsible Investment (PRI).

About Adamence

Established in 2005, Adamence.com is a pioneer and market leader in online jewellery in France. With more than 3,000 jewellery items and around 10,000 diamonds on line, Adamence.com offers an unrivalled range to online shoppers, at prices 20-40% below those offered by traditional jewellers. Customers are supported during the purchasing process by top-quality customer service and professional customer advisors. Adamence.com also has a European presence, with sites in Germany, the UK and Spain.