- Huw Hughes
Secret Sales has reported a 4,000 percent month-on-month growth in revenue during the pandemic since transitioned last year 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 a dedicated marketplace”.
The platform now showcases end-of-season stock from 115 designer and high street names including Superdry, Ted Baker, Jigsaw, GStar and Versace. That brings its total number of individual shoppable brands to over 450.
“Retail is undergoing a revolution, and companies need an effective and profitable way to clear excess inventory without eroding sales in full price channels or brand equity by selling to third party retailers that aren’t concerned about brand positioning,” said Chris Griffin, CEO of Secret Sales, in a statement.
“Secret Sales was already a respected outlet name, but we pivoted the business to a more compelling marketplace model to align with current needs and prepare for the future of ecommerce. Our technology and marketing-led proposition drives growth, offering a cleaner, premium clearance strategy and the ability to reach a new customer base.”
Over 18 million unique users have visited Secret Sales since it launched last year as a marketplace.
Photo: Secret Sales lifestyle