15 Sep 2014 07:00
MySale Group announces partnership with Scandinavia's leading flash sale website
· MySale Group acquires 60 per cent of Invitetobuy.dk in Demark and creates partnership to spearhead European expansion.
(London, 15 September 2014), MySale Group plc (AIM:MYSL), a leading online retailer with established flash sales sites in Australia, New Zealand and South-East Asia and an expanding international presence in the US and UK today announces it has acquired 60% of Scandinavia's leading flash sale website, invitetobuy.dk ("Invitetobuy") and established a partnership with them for further European expansion. Terms of the transaction were not disclosed.
Invitetobuy operates Denmark's leading online shopping club, providing over 150,000 members with exclusive access to well-known Danish and international brands such as Pandora and Ecco for 30 to 80% below normal retail price. It was established in 2010 and recently acquired Agoodsale.dk.
The alliance with Invitetobuy follows the recent acquisition of Cocosa in the UK and the launch of dedicated websites in the UK and US markets. Terms of the agreement were not disclosed.
Jamie Jackson, MySale's founder and executive vice-chairman, said: "Following our IPO earlier this year and recent website launches in the USA and UK, we are delighted to announce today's partnership with Invitetobuy. It marks an important step in our development as a group as we continue to expand our global offering and serves as the springboard for bringing the MySale brand to the Scandinavian market. We have an established position in Asia and are growing in the US and are looking to grow our position in Europe."
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Enquiries:
Maitland
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Neil Bennett
Daniel Yea
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Ken Fleming
Steve Baldwin
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Joint Broker
Zeus Capital Limited
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John Goold
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Andrew Jones
About the MySale Group
The MySale Group was founded in 2007 by Jamie Jackson and now has over 13 million members and operates websites in 10 countries, employing more than 500 people. Ozsale,com.au nzsale.co.nz and singsale.com.sg were the first flash sale websites in their respective markets and are all now dominant e-commerce businesses. The MySale websites operate in Malaysia, the Philippines and Thailand with plans at an advanced stage to open in Korea, Hong Kong, US and the UK. The group hosts flash sales that run for three days in each core market across ladies wear, menswear, childrenswear, health, beauty and home wares. Only members can access sales. Membership is free.
About Invitetobuy.dk
Invitetobuy.dk is the leading Danish provider of exclusive online flash sales. New campaigns launch every week offering 30-80% discounts on selected designer brands. Invitetobuy.dk was launched in 2010 and acquired one of the main competitors Agoodsale.dk in 2013. The sites have more than 150,000 members. Invitetobuy.dk currently operates in Denmark with plans to open in Sweden, Norway and Finland in the near future.