Sir Philip Green-backed flash sales website MySale buys three online retail firms in Australia
Flash sales website MySale said yesterday it has bought three retail sites in Australia from Grays eCommerce group for AU$5.2m (£2.4m).
The UK-listed company, which is backed by Sir Philip Green, said the deal was a great opportunity to grow its customer base in Australia, where MySale first launched in 2007.
The three sites – OO.com.au, dealsdirect.com.au and topbuy.com – have an average of 3.1m visits a month and an email database of 6.5m customers.
“The sites being acquired are all well-recognised brands in their own right, with a female weighted customer base. There is very little overlap with our existing member base so there is also a good opportunity to cross sell our core fashion offering,” MySale’s chief executive and co-founder Carl Jackson said.
The deal comes after MySale reported a £5.2m loss in the year to 30 August, although revenues increased by five per cent to AU$235.9m.
Shares in the company have fallen by 76 per cent to 54p since listing at 226p in June last year.