MySale Group plc (AIM: MYSL), the leading international online retailer, today announces that the transaction to sell the trade and assets of the website cocosa.co.uk to Brandalley UK Limited, as previously announced on 3 May 2019, has now been completed.
The Business, although only approximately 5% of total revenue, was the group’s main trading website in the UK and this disposal forms part of the rationalisation programme which will increase the group’s focus on the Australian and New Zealand (ANZ) markets.
Whilst current trading continues to be very challenging the group remains focused on reducing its cost base and through its ‘ANZ First’ strategy, utilise the group’s scale, resources and market position in the region to deliver the e-commerce platform of choice to domestic and international brands.
Carl Jackson, Chief Executive Officer, commented:
“With this disposal complete we can accelerate our ‘ANZ First’ strategy, which leverages our market position in the region.Whilst trading conditions present significant challenges we continue to target cost reductions.
”This more streamlined and focused approach, will allow us to provide an improved offering for both our customers and brand partners.”