Sports Direct teams up with MySale to launch operations Down Under

14th Jul 2014 11:18

The share prices of Sports Direct and MySale gained on Monday after it was announced that the sportswear retailer has teamed up with the flash sale fashion retailer to launch in Australia and New Zealand.Sports Direct said in a statement that it has formed an online partnership with OzSale.com.au, part of the MySale Group in which it owns a 4.8% as of last month.MySale will operate the e-commerce platform as part of a new joint venture, giving Sports Direct immediate access to MySale's 12m members.Websites will be launched later this year and be ready to ship goods in the same month.Sports Direct also plans to open three flagship stores in Australia and one in New Zealand, with an OzSale.com.au outlet in each store.Dave Forsey, Sports Direct's Chief Executive, said that the new partnership "will give Sports Direct access to the tremendous markets in Australia and New Zealand and enable customers in both countries to benefit from our quality and unbeatable value". "It will be great to enter these markets, where sport is a way of life. I have been really impressed by the team at MySale and look forward to working with them."Meanwhile, MySale's Founder and Executive Vice Chairman Jamie Jackson said he was "really delighted" with the new deal, which is the "logical next step in the development of our relationship".Sports Direct was trading 3.9% higher by 11:32 on Monday, while MySale gained 4.5%.BC