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Design Milk Co. Limited (DMC) has reached a conditional agreement to sell its online business to Design Milk Holdings, LLC for US$350,000.
The proposed sale includes all assets related to the company's ownership and operation of its eCommerce websites supporting independent brands and designers.
Upon completion and shareholder approval, the funds from the sale will be used to explore other opportunities, and the company is in advanced discussions with a high-growth technology company for a potential acquisition.