Media company APN has paid $36 million for a controlling stake in online shopping club brandsExclusive, vowing an additional $30 million if it reaches earnings targets.
brandsExclusive is reportedly set to generate $70 million in revenue for calendar 2012 through its sale of discounted premium fashion brands.
APN, which now has an 82 per cent stake in the online trader, has revealed it will pay an additional $30 million if earnings targets are met in 2013.
APN owns regional newspapers and radio stations across Australia and New Zealand.
Chief executive Brett Chenoweth said the company, which posted a loss of $45.1 million in 2011, has faith in the future of online commerce.
"This investment is a significant move towards repositioning APN for growth and will substantially ramp up our digital revenue and earnings trajectory," he said.
"We believe there is tremendous value to be unlocked in the global shift towards eCommerce which will be a core part of the digital media landscape in the future."
brandsExclusive has spent the past year introducing a number of digital initiatives, including a live feed function which allows customers to share recent purchases through social media channels.
APN's acquisition comes just weeks after brandsExclusive competitor Ozsale acquired BuyInvite.
Labels offered on brandsExclusive have included Saba, Mavi Jeans, Olga Berg, Mooks, Ben Sherman, Lacoste, Esprit, Sass & Bide and Bonds.