Secret Sales news and archive

Secret Sales acquires H&M Group’s Afound

Off-price marketplace Secret Sales has snapped up digital fashion outlet Afound from its former parent company H&M Group. The move comes as Secret Sales looks to continue positioning itself as a “dominant force” in European off-price retail, an effort that has already been reflected in similar acquisitions over the course of the past few years....

Business

Secret Sales acquires German e-tailer Dress-for-Less

Off-price marketplace Secret Sales is continuing its European expansion with the acquisition of German online retailer, Dress-for-Less. The company said the takeover was the “natural next step” in its “aggressive” merger and acquisition strategy, through which it is aiming to become “one of the most formidable discount retailers in Europe”....

Business

Secret Sales names new chief digital and marketing officers

British discount platform Secret Sales has announced the appointment of Chris Lacey to the role of chief digital officer, a position newly created amid its ongoing growth strategy throughout Europe. In the position, Lacey has been tasked with driving the company’s international expansion plans, working alongside all departments to enhance...

Business

Secret Sales enters Ireland in continued expansion

Off-price retailer Secret Sales has taken its first steps into Ireland, continuing on its ongoing expansion plans throughout Europe. Shoppers in the region will gain access to the marketplace’s exclusive discounts across 450 brands, including both high street and luxury labels, as reported by Business Plus, which initially published the news....

Business

Secret Sales acquires Spanish discount retailer Dreivip

Off-price retail platform Secret Sales has snapped up Spain’s discount retailer Dreivip for an undisclosed sum as part of its newly launched merger and acquisition (M&A) strategy. The “aggressive” scheme has been introduced after Secret Sales began making its entry into new regions, most recently stepping into the Netherlands and Belgium, making...

Business

Former Ted Baker exec joins Secret Sales as CTO

Off-price marketplace Secret Sales has announced Leon Shepherd as its new chief technology officer, an appointment that comes as the company prepares to up its technology investments. Shepherd joins the firm from Ted Baker, where he held the position of chief information officer and digital strategy director. Prior to that, he has also worked at...

BusinessFeatured

Secret Sales secures 10 million US dollars to accelerate Europe expansion

Secret Sales, the marketplace that sells surplus stock for fashion, sportswear and beauty brands, has raised 10 million US dollars in series B funding to accelerate its expansion in Europe. The new funding is from the same group of investors that led the company’s first round of funding in June 2021, including European private equity investor...

Business

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...

Business

Asos takes to Secret Sales in bid to right-size stock portfolio

Fashion e-tailer Asos has unveiled a new partnership with non-full-price marketplace Secret Sales, through which customers can shop products from the brand. Secret Sales shoppers will be able to access an initial selection of up to 1,000 products from Asos-owned brands, including Asos Design, Reclaimed Vintage, Topshop and Miss Selfridges, all...

PeopleFeatured

Secret Sales taps former Asos CEO Nick Beighton as chair

Discount fashion and beauty marketplace Secret Sales has appointed former Asos chief Nick Beighton as its new chair. Beighton was at the helm of e-tail giant Asos from September 2015 until December 2021, before which he served as the company’s chief operating officer and earlier still as its chief financial officer. Before joining Asos, he...

Business

Discount marketplace Secret Sales signed 687 new brands last year

Fast-growing discount fashion marketplace Secret Sales says it has signed a total of 687 new fashion, beauty and homeware brands in the past year. That’s thanks to the British retailer inking deals with 75 multi-brand retail groups and standalone brands in 2021. Those retail groups include global eyewear company Mondottica, and timepiece...

People

Secret Sales taps former Asos senior merchandiser as head of trading

British discount fashion marketplace Secret Sales has named Peter Coombes as its new head of trading in what is the latest in a string of top hires at the business. Coombes joins from e-tail giant Asos where he spent six years, arriving as merchandiser of the menswear outlet in 2015 before moving his way up to senior merchandiser of womenswear...