Australian off-season flash Sale etailer MySale is “leveraging” its business with UK and US retailers, including Sports Direct, as profit and revenue soared in its latest full-year results.
MySale chief executive Carl Jackson told Drapers he saw “big opportunities” to work with further UK and US businesses to help them dispose of their inventories, particularly summer stock which it can buy “very aggressively”.
Last year Sports Direct brands were rolled out in Australia and New Zealand. Jackson said the deal has proved “lucrative” on the back of high demand for activewear. The etailer is now in discussions to extend the catalogue to its customers in south-east Asia.
MySale also outlined a similar strategy to develop its existing tie-up with US online flash Sale site Gilt. Jackson added that “a number” of new retailer partnerships are in the pipeline.
The business reported a more-than-threefold increase in underlying pre-tax profit of 226% to A$3.3m (£1.9m) in the year to 30 June, on the back of various technological investments including the launch of its “buy now, pay later” system Ourpay in January.
UK revenue increased by 31% to A$13.1m (£7.9m).
Jackson said: “From a business perspective, we are in a really good position. It’s been a good year for us, and we’re focusing on driving gross margin.”