MySale, the leading Australian online fashion retailer that has established retail websites in Australia, New Zealand and Southeast Asia, has returned to making profits post restructuring.
Following restructuring to an ‘inventory light’ marketplace platform, MySale saw its EBITDA rise to £1.39million in the 6 months that ended 31 December 2020.
That’s a jump from the £1.72 million loss that it incurred during the same period in the previous year.
The online fashion retailer saw its year-on-year Group revenuefall by 11 per cent to £35.4 million.
Notably, all Group revenue – excluding revenue from legacy inventory – rose to £34 million during the period. That was a surge of 15 per cent!
The retailer, while commenting about the profits made, said that it was committed to its focus on activities and opportunities in the ANZ region – thanks to its ANZ First Strategy.
ANZ First Strategy, reportedly, focuses on optimising Group’s important scale, resources and market position in the region. Consequently, it helped MySale’s core revenue grow by 21 per cent.
The online retailer further said its revenue focus is on sales through the inventory light platform, which includes third-party sellers and selective high margin, fast turnaround own stock.
Importantly, MySaleruns 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.
