MYNETSALE

MyNetSale is a fashion retail website which hosts "flash" sales of luxury and designer fashion items, which can provide discounts of between 50 and 80% on designer items. History of MyNetSale Founded in 2012 by a French-Australian team of fashion experts, the firm focuses on selling French fashion items in the Asia-Pacific market, with a base in Australia. After its launch in 2011, by September 2012, the company had 20 employees, half in Paris and half in Sydney. MyNetSale has attracted... over AUS $3.5 million in investment funding since 2012 to achieve its goals, which include becoming the largest pure player private sale website in the region. Since its founding, the firm has been growing at an annual rate of 3.6%. It has sent over 1.5 million targeted e-mails to customers, and reports that its customers spend an average of AUS $140 per shopping basket. The Concept The company has a permanent staff based in Paris, France, who work with designer labels to purchase overstock goods. The firm then markets these designer items to consumers in Australia via the MyNetSale online marketplace. The concept behind this strategy is to inexpensively source items that are out of season in Europe, while they are in season in Australia. This also seeks to appeal to fashion brands in Europe who need to sell overstock in the off season. MyNetSale promotes itself as the best way for European fashion brands to enter the Australian market, allowing them to sell last year's collections without competing with this year's range. 72-hour flash sales The good sourced in France are sold in 72 hour flash sales which begin at 7am and work on a first come, first served basis. Since March 2013, the firm has been operating 3 sales per day. The firm updates their customers when a sale begins, showing available items in a daily e-mail. The firm also operates a private shopping club for customers. Membership is free of charge and a loyalty scheme is in place whereby customers can earn AUS $10 credit when friend place their first order. This system allows the company to offer over 800 designer brands in every flash sale. Featured brands include Lacoste, Calvin Klein, Desigual and Prada. These items are available at significant discounts from shop prices, with savings of between 50 and 80% possible. Items covered by flash sales include clothing, jewellery and apparel such as designer bags. Payment on the website is provided via a secure PayPal system which covers all major credit cards. All purchases are trackable via unique purchase numbers and estimated delivery dates are provided. The firm has been aggressively investing in new technology to market its products. The firm has made three redesigns of its website, which is fully optimized for Android, iPhone and iPad usage via responsive web design. The company specializes in promoting fashion products through visually striking, accessible technology and employs in-house professional photographers to present merchandise with the highest possible production values.More