Secret Sales news and archive

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...

Report

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...

Report

Secret Sales promotes Fiona Lay to chief trading officer

Secret Sales, the marketplace for fashion and beauty brands has announced the promotion of Fiona Lay to chief trading officer. The company said in a release that Lay’s promotion comes only a year after joining the Secret Sales team and will have her overseeing the entirety of global trading, live seller business development, onsite merchandising...

ManagementFeatured

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...

Report

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...

ManagementFeatured

Secret Sales taps six new senior hires amid expansion

Secret Sales has announced six hires to newly created director-level positions amid rapid growth at the British discount fashion marketplace. It comes after the company announced in June it had secured 10 million euros in Series A funding to help expand its UK operations and launch in new territories in 2021. Shahnila Rashid has joined the...

ManagementFeatured

Secret Sales secures 10 million euros in funding, eyes new countries

British discount fashion marketplace Secret Sales has secured 10 million euros in Series A funding which it says it will use to expand its UK operation and launch in new territories in 2021. The investment round was led by family-backed private equity investor Perwyn Growth Capital and supported by e-commerce investment specialist Belerion...

Report

Fashion marketplace Secret Sales sees revenues soar during pandemic

Secret Sales has reported a 4,000 percent month-on-month growth in revenue during the pandemic since transitioned last year from a flash sales website to an e-commerce marketplace. The company was acquired in March 2020 by retail entrepreneurs Chris Griffin and Matt Purt who transformed it “from an antiquated members-only flash sales website to...