A leading fashion retailer has obtained a .com URL for $200,382, highlighting the importance that domain names have to business success.
British firm Republic had previously traded primarily under a .co.uk site, although it also acquired a .eu address at the end of September, the Retail Gazette has reported.
The purchase of a .com address – which typically trade for a price of £1,223 – cost far more than usual and involved the hiring of a domain marketplace provider to broker the deal.
Jo Molineux, head of multichannel at Republic, said that the domain name acquisitions will play a critical part in the company’s success.
She said, “We are aware that our consumers are digital natives, so we want to do everything we can to increase our web traffic, which is why we are thrilled to have a comprehensive domain name strategy.”
Earlier this month, a Libyan domain name made headlines after local.ly sold for $100,000 to Infor.