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”.

Through Dress-for-Less, Secret Sales is looking to provide its partner brands and retailers access to a “dramatically increased market share and millions of customers across Europe”. As such, brands will be able to expand and control their pan-European off-price strategies through one platform.

Dress-for-Less is to be powered by the firm’s backend technology platform while keeping its name, look and feel yet with an increase to inventory.

It is the sixth European off-price platform secured by Secret Sales in recent years, with the British company having already stepped into Ireland, Belgium, the Netherlands and Spain through a similar M&A model.

In a release, the company’s CEO, Chris Griffin, said: “We see it as our number one goal to protect a brand’s equity while driving increased profits to their P&L. By delivering these objectives and driving our growth strategy we are delivering our promise to our partners.”

Griffin continued: “Dress-for-Less is second-to-none in the space in Germany and forms a key part of our growth. For brands and retailers, the potential for pan-European control and expansion offers significant revenue opportunities. And, for Secret Sales and Dress-for-Less' customers alike, there is now more choice than ever before.”