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 served as head of finance at Matalan.

Secret Sales was acquired in March 2020 by retail entrepreneurs Chris Griffin and Matt Purt who transformed the business from a flash sales website into a discount fashion and beauty marketplace where brands can sell their excess stock.

Since then, the company has announced an international expansion plan and a spate of top appointments, including a new head of trading and six other hires to newly created director-level positions.

Global ambitions

Secret Sales launched in the Netherlands and Belgium in April after securing 10 million euros in funding in 2021. It said it plans to expand into a further 12 European countries over the next two years.

In the past year, the company said its sales have grown by over 150 percent year-on-year as its seller base increased by almost 40 percent.

The company has inked partnerships with the likes of Superdry, Ted Baker, LK Bennett, and Dolce & Gabbana.

“Secret Sales is nothing short of a game-changer for the fashion and beauty industry,” incoming chair Beighton said in a statement.

He continued: “For too long, excess stock has been seen in terms of cash recovery using clearance channels that erode the brand. But with Secret Sales, the industry finally has access to a positive strategy for non-full-price inventory.”