Online private sales provider BrandAlley UK has completed a UK management buyout, it has been announced.
BrandAlley’s UK management team has purchased the company from shareholders News International and BrandAlley France and will run it as an independent company, with Bruce MacInnes as Chairman.
MacInnes, formerly Chairman of sports data group RunningBall and head of TMT Investment Banking at Investec, commented: “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 will retain its business model and management team, as the buyers plan to focus on improving the online retailer’s offering of fashion, beauty and homeware products and fostering relationships with brands.
In 2012, more than 70,000 new customers visited the BrandAlley site, and the management team intends to build upon this, as well as improving upon the 15 per cent share of revenue currently generated by the retailer’s mobile site.
Looking to the future, BrandAlley CEO Rob Feldmann commented: “As we set out on a new path as an independent company, we will look to build upon our success to date and continue to offer our members the best brands at fantastic prices.
“We are delighted to have the expertise of Bruce MacInnes as our chairman as we move into the next phase of our development.
“These are exciting times for everyone involved with BrandAlley UK.”