eShop Ventures: A costly spending spree to create the Spanish Amazon

Behind the downfall of one of Spain’s most promising startups

The founders of eShop Ventures, once known as the Spanish Amazon, had the ingredients for success: good ideas, an adoring media and millions of euros in financing. Yet the e-commerce startup, which was named one of the “50 best digital ideas” by Spanish business daily Expansión at the end of 2015, filed for bankruptcy 16 months later.
Founded by Rafael Garrido and Alfonso Merry del Val in 2012, the eShop group of e-commerce brands had already shown signs of cracking under the weight of overtrading in 2015. Seven of its businesses suffered combined losses of over €8...
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Edited by Suzanne Soh

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