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Amazon’s entry into Australia isn’t just forcing traditional retailers to take stock of their future with two of Australia’s e-commerce pioneers, Catch Group and Lux Group, coming together to fortify their respective positions. With a combined estimated turnover of over $600 million across all businesses, the deal represents Australia’s largest home grown eCommerce transaction. Lux Group, formerly known as Aussie Commerce, was co-founded by BRW young rich-listers Adam Schwab and Jeremy Same 7 years ago and Mr Schwab said that the deal was designed as a series of separate transactions. The first transaction will see Lux, which owns Luxury Escapes, buy Catch Group’s luxury travel businesses, which include BonVoyage and Scoopon Travel. Meanwhile, Catch will acquire Lux Group’s designer brand product businesses, which include Brands Exclusive and TheHome, which will now alongside the company’s Catch.com.au, GroceryRun, Mumgo and Pumpkin Patch platforms. The two parties have also combined their respective daily deals businesses into an independently operated joint venture, which will include businesses such as Scoopon, Cudo, LivingSocial, DEALS.com.au and New Zealand-based TreatMe. The move increases the overall surface area for businesses to get their deals to interested customers. Read original article |
