APN News & Media is searching for interested buyers for brandsExclusive, indicating the website isn’t a natural fit for the media company.
The online shopping website sells products for partners such as Lacoste, Esprit, Zac Posen and The North Face. It is reported to gain around 66,000 new users each month, who then are granted access to discounted sales of apparel ranging from shoes and accessories to homewares.
The business has built up a 2.7 million-strong membership since its establishment in Australia and New Zealand in 2009.
The Wall Street Journal reports BrandsExclusive expects to make annual revenues of around $63 million this year, benefiting from the trend among shoppers to hunt for bargains online.
APN acquired brandsExclusive last June for an initial $3 6million, and paid another $6 million after achieving milestones in developing the business over the past six months.