- Huw Hughes
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Australian online retailer MySale Group has entered into an
unconditional agreement to sell the trade and assets of shopping platform
Cocosa.co.uk to fashion retailer Brandalley for 1.5 million pounds.
The completion of the deal is set for 9 May and forms part of the
company’s rationalisation programme as it increasingly focuses on the
Australia and New Zealand region. “This disposal represents a key step in
accelerating our ‘ANZ First’ strategy, which looks to optimise our scale,
resources and market position in the region,” said MySale CEO, Carl
Jackson, in a statement. “With this more streamlined and focused approach,
we can provide an improved offering for both our customers and brand
partners.”
In the financial year to June 2018, Cocosa achieved revenue of 15.7
million Australian dollars (8.4 million pounds), approximately 5 percent of
total group revenue, and incurred a loss before tax of 400,000 Australian
dollars (215,000 pounds) including attributable central operating
expenses.
