BrandAlley UK bought by its management team
Upmarket designer discount retailer BrandAlley UK has been bought by its management.
The company, which offers daily flash sales with discounts of up to 70%, was sold by its French parent and joint venture partner News International.
While the company’s UK business model and management team will remain the same, Bruce MacInnes has been appointed as its new chairman. McInnes was previously chairman of sports data group RunningBall and head of TMT Investment Banking at Investec.
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 are committed to building a first class, multi-channel platform and expanding our database of wealthy, savvy shoppers."
MacInnes added: "I have 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."
BrandAlley UK generates sales of around £30 million a year. Last year the company launched Outlet, a permanent designer catalogue which now accounts for 12% of total sales.
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