BuyVip
Spain's largest luxury flash sales acquired by Amazon for $80M — Amazon shut it after 5 years because flash sales conflicted with Amazon's everyday-low-price brand positioning
Fatal mistake: BuyVip built luxury flash sales in Spain and LatAm. Amazon acquired for reportedly $80M in November 2010. Amazon integrated BuyVip into Amazon.es fashion but the flash sales model conflicted with Amazon's everyday-low-price brand. BuyVip brand and operations shut September 2015. Amazon kept the team. Spain's Privalia (competitor) continued thriving under Vente-Privée until acquired for €500M in 2020.