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.