Philip Green has taken a 25% stake in Australian flash sales site Mysales.com as it plans to move into the UK and US.
The company, which previously operated under the OzSale.com.au brand confirmed that it plans to move its global headquarters to the UK to accelerate the expansion of its supply chain and distribution.
The relocation will create in excess of 100 jobs in the UK, principally in the group’s new 60,000 sq ft commercial and distribution centre in Corby, Northamptonshire. It is also currently in the process of opening a London buying office which will further develop its supply chain.
The company plans to open in the US, UK, Korea and Hong Kong. Currently it is present in Australia, New Zealand, Singapore, Malaysia, Thailand and The Philippines. Each day, the company hosts up to 60 flash sales across those six countries for leading fashion brands.
The deal will see Green sell his Arcadia brands, which include Burton and Topman, on the site, The Financial Times reported.
Founder 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.”