Mighty Ape has more than 895,000 subscribers and in the 12 months to September generated more than A$120m in revenue Photo: Getty ImagesNew Zealand's first e-commerce-only retailer Mighty Ape has been sold to Australian retail and insurance company Kogan for A$122.4 million ($NZ128.3m). 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. Mighty Ape has more than 895,000 subscribers and in the 12 months to September generated more than A$120m in revenue and gross profit of A$37.8m. "Mighty Ape will give us significant scale in New Zealand and further strength across a variety of operational dimensions. "Combing with Kogan.com will assist Mighty Ape to expand our product range and improve our customer experience.

Source: Otago Daily Times December 03, 2020 00:11 UTC