brandsExclusive to be sold by Christmas

APN is likely to record a loss on the sale of its ecommerce company, which has drawn a range of bidders.

Established retail brands and overseas fashion houses are among the bidders that have expressed interest in buying brandsExclusive, the online shopping site for clothes and accessories owned by APN News & Media Ltd, which is expected to be sold by Christmas.

APN, after reviewing a range of indicative bids for brandsExclsuive, is unlikely to receive the $36 million it paid for the ecommerce company in June last year. APN declined to comment on what potential price it may accept for brandsExclusive.

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