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.
- 5 How the language you speak changes your view of the world
Lucy Hawking: Stephen Hawking's daughter writes impassioned open letter to Katie Hopkins about rights of disabled people
Indonesia executions: Death row British grandmother Lindsay Sandiford will refuse to wear a blindfold when she faces firing squad
Oxygen-starved 'dead zones' with no marine life up to 100-miles long discovered in the Atlantic Ocean
How the language you speak changes your view of the world
Russian warships accused of 'chasing away' Swedish vessel to prevent Baltic States from achieving energy independence
Over 50,000 families shipped out of London boroughs in the past three years due to welfare cuts and soaring rents
EU asylum policy is 'a direct threat to our civilisation', says Nigel Farage
The Rothschild Libel: Why has it taken 200 years for an anti-Semitic slur that emerged from the Battle of Waterloo to be dismissed?
General Election 2015: SNP and its activists 'openly racist' towards the English, Farage says
General Election 2015: UK will be 'run for the wealthy and powerful' if Tories retain power, Labour warns
Schools forced to act as 'miniature welfare states' with teachers buying underwear and even haircuts for poor pupils
iJobs Money & Business
£16000 - £18500 per annum: Recruitment Genius: This is an excellent opportunit...
£24000 - £28000 per annum: Recruitment Genius: A Senior SEO Executive is requi...
£16000 - £18000 per annum: Recruitment Genius: An Online customer Service Admi...
£18000 - £22000 per annum: Recruitment Genius: This global, industry leading, ...