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The founder and chief executive of OnBuy, Cas Paton, has been appointed chief executive of Comet following its acquisition by OnBuy last week.
In an announcement on LinkedIn, Paton announced his appointment effective immediately.
The recent acquisition is set to marks a new chapter for both companies. OnBuy, founded in 2014, is a UK-based online marketplace positioning itself as a “more transparent” alternative to Amazon, supporting independent retailers with competitive fees and ethical practices. It has grown rapidly in recent years, gaining attention for its commitment to championing British e-commerce.
Comet, once a household name in UK electronics retail, was a major high-street presence until its collapse in 2012. The brand is now set to be revived online later this year thanks to its acquisition by OnBuy.
Speaking on LinkedIn, Paton said: I’m pleased to share that OnBuy has acquired the Comet brand with the full intention of restoring that excitement back online with a new Comet marketplace, powered by OnBuy, following an initial £10m investment.
“I’m proud to be part of the Comet journey and history, and to keep alive a brand that has operated since 1933 in the UK until its closure in 2012.”
