×
165
Fashion Jobs
H&M
Security And Hse Manager – Borås
Permanent · BORÅS
H&M
Production Manager to h&m Womens Marketing Team
Permanent · STOCKHOLM
H&M
SEO & Taxonomy Specialist
Permanent · STOCKHOLM
H&M
Tactical Buyers to Non-Commercial Goods Purchase Department
Permanent · STOCKHOLM
H&M
Business Controller to h&m Kids New Premium Concept
Permanent · STOCKHOLM
H&M
Group Manager to Finance & Accounting
Permanent · STOCKHOLM
H&M
Data Specialist to Costing & Purchasing
Permanent · STOCKHOLM
RITUALS
Area Manager Stockholm
Permanent · Stockholm
PUMA
Teamhead Planning & Purchasing
Permanent · Helsingborg
PUMA
Senior Manager Merchandising Puma Golf Europe
Permanent · Solna
PUMA
Strategic Key Account Manager
Permanent · Solna
PUMA
Senior Marketing Manager Cobra Puma Golf Europe
Permanent · Solna
LEVI'S
Key Account Manager
Permanent · Stockholm
GANT GLOBAL HQ, STOCKHOLM
Retail Sales Trainer Nordics
Permanent · STOCKHOLM
GANT GLOBAL HQ, STOCKHOLM
Global Brand Production Director
Permanent · STOCKHOLM
GANT GLOBAL HQ, STOCKHOLM
Global Legal Coordinator
Permanent · STOCKHOLM
GANT GLOBAL HQ, STOCKHOLM
Senior Digital Analyst
Permanent · STOCKHOLM
GANT GLOBAL HQ, STOCKHOLM
Head of Retail Operations
Permanent · STOCKHOLM
GANT NORDIC
Sales Advisor/Visual Merchandiser 70%, Gant Flagship Store Stockholm
Permanent · LONDON
GANT GLOBAL HQ, STOCKHOLM
Marketplace Sales & Operation Specialist
Permanent · STOCKHOLM
GANT NORDIC
Sales Advisor Extra, Gant Store Mall of Scandinavia
Permanent · SOLNA
GANT GLOBAL HQ, STOCKHOLM
Global Wholesale Order Book Specialist
Permanent · STOCKHOLM
Published
Jun 29, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Secret Sales raises €10m in new expansion funding

Published
Jun 29, 2021

It seems 4,000% growth in a year isn’t quite enough. So fashion and beauty online discounter Secret Sales wants yet more growth to ensure it remains at the forefront of the booming sector.


Image: Secret Sales


To that end, the business has secured €10 million (£8.5 million) in Series A funding. It comes a year after being acquired by retail entrepreneurs Chris Griffin and Matt Purt.

Secret Sales said it would use the money to scale its e-commerce platform and expand its operations in the UK and overseas. The business is also planning to launch into new territories this year and “bring on board hundreds more brands and retailers”, it said.

The company, which currently offers 700 brands on its platform, is due to go live in six more countries in the next year.

“Following an exceptional first year, we are now ready to accelerate domestic and international operations, spearheading a new era for the discount sector”, CEO Griffin added.

“Our Series A funding round from experienced investors validates the significant opportunity for Secret Sales’ business model worldwide, and will allow us to meet increasing demand from brands and retailers looking for an upmarket, profitable and sustainable way to sell non-full-price inventory”, he added.

The funding round was led by private equity and growth capital investor Perwyn Growth Capital and supported by Belerion Capital, the e-commerce investment specialist and early-stage investor in ASOS, The Hut Group and Boohoo.

Ravi Sharma, partner at Perwyn, added: “We have been extremely impressed by what the management team has built to date and look forward to the coming years as we look to scale the business further”.

Iain McDonald, founder at Belerion Capital, also said: “Secret Sales is revolutionising the way brands deal with excess stock through a technology-driven, capital light model. We are very happy to support the team as the business begins its next stage of growth.”

Copyright © 2022 FashionNetwork.com All rights reserved.