BrandAlley UK acquisition confirmed
As announced by FashionMag.com on 8 January, owners BrandAlley France and NewsCorp have sold the site’s UK subsidiary. This information was confirmed by Drapers on Tuesday.
The sale was, in effect, a management buyout backed by private investors. Bruce MacInnes is said by Drapers to take over as Chairman at BrandAlley UK. MacInnes was previously president of RunningBall, a company supplying real-time sports information, and was at the head of investment bank TMT at Investec.
BrandAlley UK was launched in 2009 as a joint venture between NewsCorp and BrandAlley France. The newly independent company will continue to specialize in private sales, keeping the existing business model.
It is still unknown as to why BrandAlley sold its subsidiary. Contacted in early January, Antoine Leloup, CEO of BrandAlley France, refused to comment. According to our source, BrandAlley UK was sold for 2 million euros. The company posted a 35 million pound turnover in 2012.
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