60 - 70%1.7M+2,000+ European technological e-commerce, with core growth average yearly growth rate customers served daily shipments engine and a data-driven throughout Europe approach, specialized in selecting and selling high-quality products ProduceShop. They sell specific product categories about the product. ProduceShop has understood across most of Europe with strong customer service that faster than most e-commerce companies and and support, and they have developed proprietary this is what makes them so profitable. Obviously, software that leverages all the data they gather to it is in their DNA to protect their margins, but the present the right products to the customer at the right model itself is designed to produce better margins moment. We see this model as the next generation in any case. of e-commerce business. SC: Our major project now is to build all the Omar Chinello: We have tried from the beginning to knowledge that Omar and I have about the make everything as strong and scalable as possible company into our enterprise resource planning and to invest as efficiently as we can. In every software so that we can automate as many category we have our own brand as well as third- processes as possible. This is essential to prepare party brands and after a time, customers search for the company to grow a lot bigger. our private-label brands, which means we don’t have to spend money on advertising. E-commerce RC: Ardian Growth’s objective is to finance Europe’s businesses often burn cash on advertising and leading digital companies and it’s clear that marketing, but we are different. This allows us ProduceShop can be a major European player. to grow and to protect our margins. We use an When we talk to digital entrepreneurs everywhere algorithm to forecast the potential sales and pricing in Europe, the conversation is the same. We don’t of each product and we insist on our target margin see Europe as a series of local markets but as one on every sale. This is our unbreakable rule. e-commerce market that gives companies like ProduceShop a huge opportunity to scale. RC: This approach is the key, for us. E-commerce companies often want to invest in their brand, like traditional retailers. But today, with new ways to consume like social networks and Google Shopping, customers aren’t concerned with the retailer’s overall brand. They want to invest in a quality product at a good price and they want service and information 2020 ACTIVITY REPORT 75