Australian fashion etailer MySale has bought defunct UK luxury flash Sales site Cocosa for an undisclosed sum.
MySale, which is planning a UK launch later this year, announced the deal this morning (Tuesday).
Cocosa was wound down in February. It is understood that at least two companies were bidding to take the business on, but no deal was secured at the time.
The flash Sale site, which launched in 2008, was acquired by the Al Fayed group in July 2011 from Bauer Media.
MySale, in which Arcadia boss Sir Philip Green recently took a 25% stake, has also reportedly purchased a database of more than 800,000 former Cocosa customers.
MySale has more than 10.5 million members and operates flash Sale websites in eight countries including Australia, New Zealand, Singapore, Thailand, Malaysia, Hong Kong, Korea and the US.
Earlier this month it moved its global headquarters to the UK to accelerate its international expansion.
MySale founder Jamie Jackson said: “As a group, we have reached a number of milestones in the past 12 months which have taken our business to another level and this is the next stage in that journey. The acquisition of Cocosa gives us a fabulous foundation to build on as we finalise our plans for our UK launch.”
A spokesman for Cocosa’s parent company added: “The online space is fast-paced and competition is increasing, so now is a great time to introduce Cocosa’s loyal customers to a wonderful opportunity to benefit from MySale’s global infrastructure and scale across all of markets. MySale has some exciting plans for the brand, which include expanding into new non-apparel categories and we wish them every success”