e-trader group, the software development company co-founded by Jaeger chairman Harold Tillman, has bought discount fashion e-tailer Koodos for an undisclosed sum.

The company already enables retailers and manufacturers to sell on clearance and overstocks through its stockshifters.com marketplace, and adding Koodos to its line-up allows it to make its first entry into the consumer sector.

"This acquisition enables e-trader to broaden its offering to retailers and manufacturers looking for a more efficient channel for their overstocks and clearance," explains Harvey Sinclair, CEO of e-trader group.

e-trader says it now plans to build on the existing success of the Koodos online fashion outlet which sells over 200 fashion brands at discounts of up to 80%.

"The acquisition represents a real opportunity for koodos.com to build on its position as a company offering fantastic brands within the online clearance market," adds Koodos chairman Robin Klein.

e-trader's unique expertise and technical capability will help leverage Koodos to continue to grow and develop within the consumer marketplace."

The off price marketplace is estimated to be worth around GBP14bn annually in the UK.