Secret Sales unveils further expansion plans as it reports strong growth

Non-full price marketplace Secret Sales has reported a strong growth for 2022, a year in which it expanded into a number of European markets.

While its total inventory has grown by 125 percent YoY, representing a total value of three billion pounds, its like-for-like growth sat at 70 percent.

It noted that the figure “far exceeds” industry norms, and puts it in a strong position to achieve 85 percent growth in 2023.

In January alone, the firm reported that its sales had accelerated by 80 percent already.

It partially credited its firm positioning to its expansion into the Netherlands and Belgium in April last year, where it reported a 40 percent month-on-month compound sales growth.

With the move, Secret Sales said it had doubled its international inventory and has expanded its partnership capabilities, onboarding new brands and department stores.

Currently, the company is forecasted to reach 450 percent YoY growth in 2023 as it looks to expand to five more markets in the next year.

In response to its growth, the company has appointed its first dedicated country manager, Tom Kelly, who has previously served at the likes of De Bijenkorf and Brown Thomas.

Further appointments include that of chief financial officer Sam Roberts and senior vice president of marketing Alex Adamson.