Nzsale Secures Funding to Accelerate Growth

FOR IMMEDIATE RELEASE

Nzsale Secures Funding to Accelerate Growth

Nzsale, a private online shopping club in New Zealand, today announced a $14.5 million investment led by Insight Venture Partners. The funds will be used to accelerate growth in core markets of New Zealand and Australia as well as Singapore and adjacent markets in Southeast Asia.

It is locally known in New Zealand as nzsale.co.nz, in Australia as ozsale.com.au and Singapore as singsale.com.sg. In Australia, Ozsale is the number one online apparel and accessories retailer* and Nzsale expects to achieve the same position in New Zealand within the next few months.

Nzsale, which launched in New Zealand 12 months ago, is a members-only shopping club which hosts flash sales lasting 3-4 days each. These sales offer designer-label clothing, accessories and home products at 50-80% off retail.

Jamie Jackson, Founder & CEO of The Ozsale Group says, “This a very exciting time for the company. The funding from Insight Venture Partners is facilitating warehouse expansion, infrastructure improvements, membership acquisition and recruitment of key talent to support our continued growth.”

Current owners will retain majority ownership of the business and will drive aggressive growth plans.

“The investment is expediting our growth into new Southeast Asia markets including Thailand, Malaysia, Vietnam, Indonesia and Hong Kong. This will triple the size of our business within 12 months and puts us in a unique position to work strategically with suppliers to identify the most profitable markets to shift surplus product.”

Since launching in 2007, The Ozsale Group has hosted more than 11,000 sale events for over 600 local and international brands including Working Style, Sabatini, Liz Mitchell, Alex Perry, Tigerlily, One Teaspoon, Metalicus, All About Eve, Speedo, Nautica, Timberland, New Balance, RMK and many more.

Over 700,000 people across New Zealand, Australia and Singapore have signed up to receive access to invitation-only sales, and more than 2,000 new customers continue to join the club each day.

Ryan Hinkle, Vice President at Insight Venture Partners says, "We are strong proponents of the online private shopping club model and are convinced that The Ozsale Group has the ability and drive to cement its leadership in New Zealand and Australia and to do the same in Southeast Asia.”

Nzsale helps designers market their lines to new customers and sell surplus inventory while preserving the value of the brand. 60% of stock is typically sold out in the first 48 hours.

Only members can access sales but membership is free and anyone can join.

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Notes to editors:
• About The Ozsale Group.
• Ozsale was founded in January 2007 by Jamie Jackson and now has over 120 employees. The Ozsale Group’s media properties, which reach more than 700,000 people in Australia, New Zealand and Singapore include www.ozsale.com.au, www.nzsale.co.nz and www.singsale.com.sg. Ozsale was the first private online shopping club in Australia and is now the number one online apparel and accessories retailer. The company hosts flash sales in each core market that run for 3-4 days each. Only members can access sales. Membership is free.
• About Insight Venture Partners (www.insightpartners.com)
• Founded in New York in 1995, Insight Venture Partners is a leading growth-oriented, entrepreneur-focused private equity and venture capital firm focused on expansion and late stage investments in the global software, Internet and data services industries. In 2009, Insight was named among the Top Ten VCs Globally by Red Herring Magazine. Insight is an investor in peer shopping clubs Hautelook in the US and Privalia in Spain, Brazil, Italy, and Mexico.

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