Australian flash Sales site MySale will expand further into Europe and roll out British luxury sales site Cocosa in Australia, New Zealand and Southeast Asia following the recent success of both businesses in the UK.
MySale, which reported a 23.3% increase in group revenue to A$224.3m (£124.1m) for the year to June 30 this week (September 15), said it has received a “positive” response from UK shoppers since its launch here in July. It now plans to open new European sites as well as acquiring further online businesses.
Founder and executive vice chairman Jamie Jackson told Drapers: “We have had more interest than we anticipated in the UK; it’s at the very early stages, but customers are engaging quickly.”
MySale acquired a 60% stake in the Scandinavian flash sales site Invitetobuy.dk this week and will launch MySale across the Nordic regions in the coming months. Jackson said: “We are always on the lookout [for new businesses]; we didn’t know that we would be acquiring a Danish brand until a few months ago so if there are sites out there that fit our format we are looking for further acquisitions.”
The business bought defunct UK etailer Cocosa in May and relaunched the site in the UK last week. As previously mooted by Drapers, MySale has confirmed it will roll Cocosa out to Australia and New Zealand over the coming months before taking it to Southeast Asia. Cocosa stocks brands including Alexander McQueen, Stella McCartney and Prada.
“Cocosa has a very strong shopper database in the UK and we intend on building on that. Hong Kong is an obvious market for it as it sells up market brands that have a high resonance there,” explained Jackson.
MySale currently stocks Arcadia and Sports Direct in Australia and New Zealand and is also looking into bringing both businesses into Southeast Asia.
Arcadia boss Sir Philip Green acquired a 25% stake in MySale in May and Sports Direct bought a 4.8% stake in the etailer in June.
Sports Direct is to open three flagship stores in Australia and one in New Zealand, replicating its UK retail model, as well as hosting a MySale subsidiary OzSale.com.au outlet within each of the stores. Sports Direct’s Australian and New Zealand sites will be launched later this year and will be ready to ship goods in the same month.
On the back of the deal with Sports Direct, MySale is looking for other UK businesses it can bring to Australia and New Zealand through both flash Sales and full price websites.
“Brands can use us for both propositions,” said Jackson. “Sports direct was the first brand in the full price division in the business and we are talking to other brands about bringing them to the Australian and New Zealand markets. It is an area we want to expand on.”
During the year MySale launched new sites in the UK, US, Hong Kong and South Korea, gaining an initial 250,000 subscribers.
The international expansion follows the company’s flotation on London’s Alternative Investment Market (Aim), in June which raised £35.2m.