Flash sales site MySale has ambitions to acquire health and beauty retailers, its boss has said.
The fragmented health and beauty sector is awash with M&A activity, with recent examples including The Hut Group’s purchase of Espa, Glossybox and RY.com.au, and FeelUnique’s acquisition of French beauty etailer and social media platform The Beautyst.
Chief executive Carl Jackson said MySale was looking for targets in the category, adding that its structure allowed it to integrate other businesses easily.
His comments came after MySale reported its results for its last full year, during which it acquired book personalisation site Identity Direct.
The retailer’s underlying profits soared but reported profits swung to a loss. Revenues inched up 6%, driven by the retailer’s focus on its high-lifetime-value customers.
Jackson said the retailer was in acquisition mode and added: “There are three key pieces that underpin M&A for us – our very large active customer base, very smart tech and good infrastructure.
“We want to add new verticals to that. [Health and beauty] is one of those verticals we would like to bolt onto the business quite quickly.”
He said that the retailer “talked a lot” to smaller Australian, New Zealand and southeast Asian businesses but had not reached the stage of exclusive talks.