Online retailer of personalised products was in administration
MySale Group, the online retailer and operator of fashion and beauty flash sales and websites, has acquired certain trade and assets of Identity Direct, the personalised product retailer.
Identiy Direct was in administration but MySale Group has confirmed it has paid $2.69m to the administrators and Ortega Publishing. Carl Jackson, CEO, said: “We are delighted to welcome Identity Direct to the MySale Group.
This acquisition will allow us to build an additional revenue stream that is very complementary to our existing core activities.
“We believe that MySale’s strength and expertise as an online retailer of scale will bring many benefits to Identity Direct which in turn will unlock significant opportunities and efficiencies hitherto unavailable to that business.”
MySale Group hopes to establish the group in a growing segment with barriers to entry and unique product; provide a strong fit with the group’s existing customer base and leverage sunk marketing costs; and improve customer data collection.
The group believes there are opportunities to drive revenue by cross-marketing to the ANZ active customer base and targeting South East Asian markets, while growing product offering.