Beleagured MySale Group is to sell the trade and assets of Cocosa to Brandalley for a consideration of £1.5 million. This will effectively take a competitor out of the UK market for Brandalley whilst freeing MySale to focus on its Australian and New Zealand heartlands. The sale is expected to complete next week. MySale has faced a challenging period with increased competition and for the year to June 2018 incurred a pre-tax loss of AUD 0.4 million on sales of AUD 15.7 million.
CEO of MySale Group, Carl Jackson said: “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. With this more streamlined and focused approach, we can provide an improved offering for both our customers and brand partners.”
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