E-commerce: Philip Green ( Topshop) purchases 25% stake in MySale
Sir Philip Green - AFP
MySale has announced its plans to move its headquarters to the UK, paving the way for its entry onto the London Stock Exchange. Launched 7 years ago, MySale generated turnover of 125 million euros (102 million pounds) over its 2012/13 fiscal year ending in late June.
For the current year, sales are already up 40%. With 10 million members, the site is present in Australia and New Zealand, as well as in South-East Asia, in Thailand and Singapore.
The acquisition by Philip Green is his first in a public company since the retailer Amber Day, which he headed for thirty years before being removed from its leadership in 1992.
Today, the billionaire heads the group Arcadia, which achieved a turnover of 2.73 billion pounds (3.3 billion euros) for its last fiscal year, which ended in late August 2013.
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