Online retailer Mighty Ape posted a profit of $37.8 million last year. Photo / ScreenshotNew Zealand's first e-commerce-only retailer Mighty Ape has been sold to Australian retail and insurance company Kogan for A$122.4 million ($128.3m). Kogan.com has acquired 100 per cent of the business, however, Mighty Ape founder Simon Barton will stay on as chief executive of the organisation. Kogan.com chief operating officer and chief financial officer, David Shafer, said Kogan was "a natural home" for Mighty Ape, sharing similar histories and shared values. "Combining with Kogan.com will assist Mighty Ape to expand our product range and improve our customer experience.

Source: New Zealand Herald December 02, 2020 23:18 UTC