OzSale and NZSale's parent company MySale Group has appointed a new CEO, Kalman Polak.
Polak is a highly regarded digital retailer and brings significant experience to the role, including over a decade at Catch Group, helping to grow the marketplace to become one of the largest in Australia.
Current CEO Carl Jackson will remain actively involved in the eTailer and will move to the executive chairman role.
Polak's appointment comes as the business prepares for a potential listing on the ASX, and coincides with the release of its FY21 results.
Key highlights from MySale Group's results include marketplace revenue growth of over 1000% over the last nine months, from $400,000 in Q2 to over $4.8 million in Q4.
Additionally, the business grew its sellers during the period, with more than 200 sellers joining the marketplace, taking the total SKUs on the platform to 1.25 million.
During FY21, MySale Group's successful execution of its ANZ first strategy returned the business to positive underlying EBITDA of $4.2 million compared to a $2.7 million loss in FY20.
"The successful execution of the ANZ first strategy positions the business it for strong growth in FY22," Jackson commented.
"We see long-term scaling opportunities and the potential for the accelerated growth of marketplace to create significant upside and long-term profitable growth," he said.
Further, the business delivered a gross profit increase to $46.3 million (FY20 $44.0 million).
The business continued to improve operational leverage, reducing its cost base to $42.1M (FY20 $47.8 million) underpinned by a significant reduction in fixed and freight costs.
It also made key position hires during the period, including Oliver Ranck as marketing director, Joanne Nix as GM buying and merchandising and Lyubo Kuchuk as chief operating officer.
Polak added that the business is ready to continue its growth.
"MySale has recruited a team of high performing industry experts, delivered very strong revenue growth underpinned by a strong business pipeline and significant growth opportunities in New Zealand.
"I look forward to working with the team to capitalise on our positive trading momentum in Q1FY22 and to drive our marketplace offering which is expected to continue its significant growth trajectory in FY22," he said.
In FY21, MySale's cash and cash equivalents increased to $9.2 million (FY20 $6.7 million), which sees the group now operate on a cash generative and debt-free basis as a result of completing the sell down of aged inventory and operating on a lower cost base.