MySale acquires Cocosa ahead of UK launch

Australian fashion flash sales website, MySale, has taken over its British counterpart, Cocosa, as the company prepares

 to enter the UK's online market.

MySales is said to have taken over Cocosa for an undisclosed sum, with an official announcement to be made by the Australian website later today, reported the Financial Times. The acquisition also included the take over of Cocosa database, with consisted of over 800,000 customers.

“The acquisition of Cocosa.com gives us a fabulous foundation to build on as we finalize our plans for our UK launch,” commented MySale founder, Jamie Jackson, MySale founder to the FT.

The UK discount flash sales site was officially shut down this February, after the Al Fayed Group, which acquired the site in 2011 from the Bauer Media Group, decided to close down the sales site and simplify its portfolio by exiting from the Cocosa lifestyle company.

Earlier this month, British retail tycoon and head of Arcadia group, Sir Philip Green, obtained a 25 percent company stake in MySale, from OzSale, the owners of the flash sales website. OzSale, which is set to be globally re-branded as MySale, last reported annual turnover of nearly 180 million dollars, or 107 million pounds.

Since then, rumors have been circulating concerning upcoming plans for an IPO on the London stock exchange, with the company being valued at 500 million dollars (297 million pounds.) The acquisition comes not long after Mysale announced that it will move its headquarters to the UK to be closer to the launch of its operations in Europe and the Americas.