The upmarket online retailer BrandAlley has posted a 70 per cent rise in sales over the first nine
months of the year, driven by a growing army of high street brands attracted to its website.The company –which specialises in flash sales of designer goods at discounts of up to 70 per cent – is trying to raise €100m (£86m) to fund the acquisition of fledgling businesses in the sector.
It appointed the investment bank Merrill Lynch in May. The website, which runs six flash sales a day, had attracted 75,000 new customers over the first nine months of 2011. A joint venture between its founder Sven Lung and News International saw sales rise 70 per cent to £23m over the period, boosted by attracting new brands.Reuse content