MySale Group, the well-known fashion e-tailer from Australia, has seen a fall in its year-over-year (Y-o-Y) revenue, but there’s been an encouraging rise in its profits.
The e-tailer’s Y-o-Y gross profit grew by 5.7 per cent to US $ 46.4 million for the year ended 30 June 2021.
The Group’s underlying EBITDA rose from a loss of US $ 2.7 million to a profit of US $ 4.2 million. Notably, the loss before tax increased Y-o-Y to US $ 5.4 million from US $ 3.4 million.
The Australian online retailer, however, saw its revenue slump by 9 per cent to US $ 117.9 million from US $ 131 million recorded a year before.
Earlier this year, the Group had said that it had restructured to an ‘inventory light’ marketplace platform.
MySale, in the year, focused on enhancing its marketplace offering. Importantly, it increased the number of brand partners by more than 30 per cent to over 300.
Meanwhile the Group also announced Kalman Polak as its new Chief Executive. Notably, its existing Chief Executive, Carl Jackson, will continue as Executive Chairman of the MySale Group.
MySale runs 12 websites across five countries, namely, OzSale, BuyInvite, DealsDirect, OO, Top Buy and Identity Direct in Australia; NzSale, BuyInvite and Identity Direct in New Zealand; SingSale in Singapore and MySale in Malaysia and Hong Kong.