Secret Sales acquires Dress for Less
Secret Sales, the marketplace for off-price retail, has acquired German online retailer Dress for Less as part of its international expansion strategy.
Specialising in discount fashion and beauty, Dress for Less achieved a turnover of €100 million in 2023 and has brands such as Tommy Hilfiger, Calvin Klein and Marc O’Polo within its product portfolio.
Secret Sales said the acquisition will provide its partner brands and retailers with access to a significantly increased market share and millions of customers across Europe. Although it will be powered by Secret Sales’ backend technology platform, Dress for Less will keep its brand name and current look and feel following the purchase.
The deal means that Secret Sales now has six European territories following its establishment in the UK and expansion into Ireland, Belgium, the Netherlands and Spain. It also means that Dress for Less customers will have access to an inventory of more than €3 billion.
Chris Griffin, chief executive of Secret Sales, said: “The retail space hasn’t had it easy, but we’re continuing to see unprecedented growth in the off-price space. 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.”
