OrotonGroup
(ASX:ORL) has invested $4.5 million in a fast growing online lifestyle accessory business, as part of a strategic partnership.
As part of the deal Oroton will buy 30% of The Daily Edited (TDE) with a combination of cash and OrotonGroup shares.
The fashion retailer says the investment will be immediately accretive with doubule digit earnings per share forecast for the 2018 financial year.
Oroton will also have the opportunity to raise interest its stake in The Daily Edited (TDE) to a majority holding in future periods.
TDE has experienced expontial growth and is on track to achieve $19 million in sales for the 2017 financial year. TDE has currently has about 40,000 active customers and 185,000 social media followers.
Shares in OrotonGroup
(ASX:ORL) are currently trading flat around $1.51
