Mike Ashley has taken a £12 million stake in MySale and signed a joint venture agreement with the online retailer — just days after it floated on AIM.
The stake-building and strategic joint venture unites two of Britain’s richest retailers. Sir Philip Green, the billionaire owner of TopShop, is one of MySale’s largest shareholders with a 25 per cent holding.
Sports Direct, through which Mr Ashley has acquired the stake, said that it looked “forward to developing its relationship with MySale, including the potential to co-operate on significant collaboration and joint venture opportunities in Australasia and Asia”.
MySale, a “flash sale” website, sells surplus fashion, beauty and toys for thousands of brands. It was founded in Sydney in 2007 by Jamie and Carl Jackson, vice