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Secret Sales predicts 85% growth this year

Secret Sales has reported like-for-like growth of 70% for 2022 and is expecting this to accelerate to 85% in 2023. The premium non-full-price marketplace has also… View Article

FASHION RETAIL NEWS UK

Secret Sales predicts 85% growth this year

Secret Sales has reported like-for-like growth of 70% for 2022 and is expecting this to accelerate to 85% in 2023.

The premium non-full-price marketplace has also grown its total inventory by 125% year-on-year, with 25 million units now available at a total value of £3 billion.

Secret Sales said the performance was partly driven by its expansion into the Netherlands and Belgium in April last year. Sales have also been boosted by 104% year-on-year growth in partners. A total of 2,469 brands are now available on the platform.

The company said it has made a “phenomenal” start to 2023 with an 80% like-for-like uplift in the January sales alone.

The strong growth has led Secret Sales to appoint Tom Kelly as its first dedicated country manager. Kelly has 30 years’ retail experience from buying roles at De Bijenkorf (Selfridges Group) and Brown Thomas.

Chris Griffin, chief executive of Secret Sales, said: ““The cost-of-living crisis has triggered an increased appetite for both the circular fashion economy and more specifically non-full price.

“We anticipate that consumers will continue to invest in quality goods at affordable prices, especially while everyone feels the impact of the current climate.

“As we expand our Secret Sales team to continue to build on our success, we look forward to working with more partners throughout Europe to help create a more sustainable future for fashion.”

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