UK Luxury website Cocosa bought by Australian electric dealer MySale

Abstract: According to the FT, Australia's fashion flash E-commerce group MySale, which received a stake in the British high street fashion brand Topshop boss Philip Green, will today announce the acquisition of the UK luxury flash purchase cocosa.com brand and its own super

According to the Financial Times, Australia's fashion flash-commerce group, which received a stake in the British high street fashion brand Topshop boss Philip Green half a month ago MySale The group will today announce the acquisition of the UK luxury flash buyer cocosa.com's brand and its database of over 800,000 users as a step into the UK, with an undisclosed amount.

Cocosa was founded in 2008 by the multinational media group Bauer Media Group, and was acquired in July 2011 by Al Fayed Group, the Egyptian wealthy businessman Mohamed Al-fayed Muhammad Fayez. In October 2013, Al Fayed Group decided to end Cocosa's business. In the statement, Al Fayed Group said that because the cost of building cocosa into a global leadership brand was too high for the group to guarantee continued investment, Cocosa's business would gradually shrink in order over the next few months. "The Cocosa is stable and will not go into the bankruptcy management process," Al Fayed Group said in a statement.

As for MySale Group, which sells men, women and children's clothing accessories, beauty products and household items, 2006 by the British Jamie Jackson set up, Jamie Jackson and his brother Carl Jackson is currently the group's chairman and chief Executive officer. In 2010, MySale Group sold 27% per cent to the US private equity fund Insight Venture Parnters LLC in 14.5 million Australian dollars. In mid-May this year, Philip Green purchased a 25% stake in MySale Group.

The current business covers Australia, New Zealand, Singapore, Malaysia, Thailand and the Philippines and other Southeast Asian countries, registered users up to 10 million, and 200,000 new users per month increased the annual sales of GBP 102 million in June 2013, is expected to increase sales to 178 million pounds this year. The group now plans to relocate its headquarters from Sydney, Australia, to London, as well as the fastest-growing listing in the UK this year, estimated at 25 times times its core earnings, or $500 million.

In the next two months, MySale group will enter the United States and Europe market, has set up the United States and UK E-commerce sites. The group hopes to use the opposite objective conditions of the southern and northern hemisphere to promote global business development. In addition, Opshop parent company Arcadia Group has signed a cooperation agreement with MySale Group, Arcadia Group's several fashion and home retail brands such as Topshop, Miss Selfridge, Dorothy Perkins and BHS will be located in MySale Group's multinational sales platform.