MARKET REPORT: Sir Philip Green and Mike Ashley nurse £55m loss on MySale punt but Australian start-up does finally turn a profit
It's been a torrid year for Sir Philip Green and Mike Ashley, but they can take consolation from a start-up venture they backed two years ago which has finally turned a profit – though they are nursing paper losses of around £55million.
Each invested in Australian online retailer MySale when it listed on the UK market in 2014.
MySale runs so-called flash sale sites in Australia, New Zealand, Asia, the US and UK.
The business sources products including clothing, health and beauty goods and travel, and holds short-term sales. Mike Ashley’s retail outfit Sports Direct has a 4.8 per cent... read more
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