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MySale plans further European expansion

MySale Group, an online fashion retailer with established flash sales sites in Australia, New Zealand and south-east Asia, said today that it is "well positioned" to take advantage of recently-made commercial partnerships with Arcadia Group and Sports Direct.

Announcing its full-year results for the year ending 30 June 2014, the company said it was ready to expand its international operations having recently secured some key relationships outside of its home markets.

The group is one-quarter owned by Arcadia boss Sir Philip Green and in July it started operating a joint eCommerce venture with Sports Direct to help raise the UK sporting equipment retailer's profile in Australia and New Zealand.

MySale also recently acquired and relaunched premium flash sales brand Cocosa in the UK and it is at advanced stages regarding an international unveiling of the brand. In a further tie-up with the Europe retail community, meanwhile, the group announced today the acquisition of a 60% stake and joint venture with Scandinavia-based flash sale site Invitetobuy.dk – and there are plans to launch MySale across the Nordic region.

Jamie Jackson, founder and executive vice-chairman of MySale, said: "The group has delivered strong membership growth across all regions and continues to expand further internationally.

"In July we launched dedicated sites in the UK and US and are preparing the Cocosa brand for further international expansion. Today we are pleased to announce a joint venture in Denmark with Invitetobuy and plan to launch dedicated MySale sites in the Nordic region in the coming months. We are well positioned to leverage additional commercial opportunities with Arcadia Group and Sports Direct."

Group revenue for the year was up 23.3% to A$224.3 million, with mobile representing 56% of sales. Adjusted EBITDA of A$6 million was reported which, although down on last year by A$1.1 million, was in line with expectations and reflected heavy investment in its UK and US operations.

The organisation's membership base has increased from 8.3 to 12.5 million during the year, with the number of active customers growing 18.7% to 827,000. Over 25% of new members were acquired through the business's mobile application.

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MySale Group