Online big-brands discount retailer BrandAlley UK has completed a UK management buyout.
The team has purchased the company from News International and French parent BrandAlley France and will run it as an independent operation.
BrandAlley, whose website holds daily “flash” sales for its members, offers discounts of up to 70% on brands that include many top housewares names.
Last March, the UK company revealed a 60% leap in 2011 turnover, up from £18.1m to £28.9m. The UK site was launched in 2008.
Speaking after the MBO, BrandAlley UK chief executive Rob Feldmann said: “We attracted more than 70,000 new customers to our site last year, and our mobile site generated over 15% of revenue. We’re committed to building a first class, multi-channel platform and expanding our database of wealthy, savvy shoppers.”
New chairman Bruce MacInnes added: “I’ve been impressed by BrandAlley UK’s track record and I believe the company has enormous potential to continue to pioneer a retail offering which meets consumer needs and shopping habits. We have a tremendous opportunity to capitalise on the company’s leading position in the market.”