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The secret of Vente-privee's success

14 July 2014 Last updated at 19:19 BST

Jacques-Antoine Granjon founded "flash sales" website vente-privee.com in 2001.

The idea for flash sales, in which branded goods are offered at heavily reduced prices for a short time, usually just a few days, stemmed from a venture Mr Granjon started with a college friend, buying surplus stock and re-selling it to discount stores.

The website now has 22 million members in Europe.

Mr Granjon explains what drove him to create the firm in the first place, and the factors, which he believes, have helped to drive its success.

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