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Sir Philip Green invests in MySale

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Sir Philip Green has taken a 25% stake in Australian flash sale site Mysale as it prepares to launch in the UK and US, according to reports.

The investment in a business that currently sells predominantly in Australia and South East Asia is a first step into pureplay retail for the entrepreneur, who owns multichannel businesses including Topshop, Dorothy Perkins and BHS through his Arcadia Group.

Mysale, which holds up to 60 flash sales a day for brands in areas from homewares to fashion, accessories and beauty, has previously said it would move its headquarters to London as it launches operations in the UK and the US.

MySale, previously known as OzSale.com.au, currently operates websites in countries including New Zealand, Singapore, Malaysia, Thailand and the Philippines. It has 10m members, with 200,000 joining every month.

The UK website is expected to launch in June, after the company first opens the virtual doors of a US site.

At the time MySale announced the move to the UK, earlier this month, British-born chairman Jamie Jackson said: “We are delighted by this move to Britain, which is a pivotal part of the group’s global expansion strategy. The move will give us the opportunity to capitalise on MySale’s success, expand from our base in Australasia and enter further markets with huge potential such as the UK and the US.

“We are building a global centre of operations in Northamptonshire and are keen to hire the very best talent to develop the business.

“Since we founded OzSale in Australia in 2007 our expectations have been exceeded by the demand for our products from value-conscious customers. Australia is a great place to do business and our 250,000 sq ft distribution centre remains an important regional base but now is the right time to expand and return to the UK, the home of fashion.”

Green told WWD that he’d invested in Mysale because it’s operating in a “very, very interesting space. I like the business model and the reverse season.”

He added: “Ninety per cent is sold before they even buy it. I like that model.”

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