Secret Sales hails 85% sales growth for 2023
Secret Sales has reported 85% sales growth for 2023 after adding 250 new brands and retailers to its platform.
During the year, the marketplace for off-price retail in fashion, sportswear and beauty accelerated its growth in Europe by entering Spain and Ireland and extending its global reach to five regions,
Secret Sales is now planning to onboard 200 new brands in 2024 to add to existing names such as River Island, Asos, Lulu Guinness, LK Bennet, Moschino and Ted Baker.
Chris Griffins, chief executive of Secret Sales, said the year had been transformative for the business.
He explained: “We doubled down on our mission to positively disrupt the off-price sector, attracting new partners and strengthening our brand portfolio.
“In a challenging economic landscape, understanding and addressing consumer concerns is crucial.
“Off-price offers a solution, providing value, sustainability, and quality, which resonates with brands and retailers alike who now have a true partner to work with on non full price and create strong profit margins well protecting brand equity.”
Looking ahead, Secret Sales is expecting to achieve a further 60% growth in 2024 as it expands into three new European territories and continues to diversify its brand portfolio.
To support its expansion plans, Secret Sales has made three key appointments within its leadership team. These have included the hiring of Chris Lacey as chief digital officer, Anthony Farrow as chief technology officer, and Alex Adamson’s promotion to the role of to chief marketing officer.
