Sports Direct heads to Australia with MySale partnership
Sports Direct snapped up a 4.8% stake in MySale, at a cost of more than £15 million, with a view to helping it to expand abroad
Monday 14 July 2014
Retail moguls Mike Ashley and Sir Philip Green took their long-standing friendship all the way to Australia today.
Ashley’s Sports Direct announced a partnership with recently floated MySale’s flash sale site Oz.Sale.com.au which will give it immediate access to MySale’s 12 million-strong customer base.
Online discounter MySale is backed by TopShop’s Green, who holds a 22 per cent stake in the London-listed company.
Shortly after its float last month Sports Direct snapped up a 4.8 per cent stake in MySale, at a cost of more than £15 million, with a view to helping it to expand abroad.
MySale shares, which came to market at 226p in mid-June, scored their biggest one-day jump today, gaining 10p to 220p.
Sports Direct chief executive Dave Forsey said: “We are delighted to announce this partnership with MySale, which will give Sports Direct access to the tremendous markets in Australia and New Zealand and enable customers in both countries to benefit from our quality and unbeatable value.
“It will be great to enter these markets, where sport is a way of life. I have been really impressed by the team at MySale and look forward to working with them.”
Sports Direct also said it would open three shops in Australia and one in New Zealand based on its highly successful UK format. The stores will include a click and collect service being developed by MySale.
Sport Direct also said it would announce a “partnership with a leading Australian retail partner” shortly.
Under Newcastle United owner Ashley, Sports Direct has amassed a range of brands including Lonsdale, Dunlop, Slazenger and Karrimor.
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