Luxury members only e-tailer Cocosa has been sold to former Harrods owner Mohamed al-Fayed for an undisclosed sum, adding to the business tycoon’s portfolio of high-end companies. The online store, which sells designer fashion at discounted prices, launched in 2008 and has over 500,000 members to date.
Al-Fayed has bought the internet shopping site from former owners Bauer Media, adding it to company ‘Cocosa Lifestyle’, set up by the Al Fayed Family Trusts. Details of the deal have not been disclosed, but the business purchase is thought to be part of a plan to launch a larger online shopping empire.
Let’s hope he keeps the cut price fashion coming.