Secret Flash Sales
closedDigital outlet village for discounted designer brands.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | N/A | Series C | |
| Total Funding | 000k | ||
Secret Sales is an online marketplace that provides customers with access to discounted luxury and designer goods. Originally established as a members-only flash-sales website in 2007 by brothers Sach and Nish Kukadia, the business has since evolved. In February 2017, the company was acquired by Excalibur Group, the owner of Wowcher, with the Kukadia brothers remaining at the helm. However, in March 2018, the founders executed a management buy-out with support from investor Big Ideas Group.
A significant pivot occurred in March 2020 when entrepreneurs Chris Griffin and Matt Purt acquired the company, relaunching it as a dedicated marketplace for non-full-price retail. This new model positions Secret Sales as a stockless retailer, acting as a digital outlet that allows brands to sell surplus inventory directly to a broad consumer base without holding the stock themselves. This strategy provides a profitable and sustainable solution for brands to manage excess inventory while maintaining their premium image. The platform works with brands and retailers by integrating with their inventory systems to sell end-of-season or surplus stock.
The company's revenue is generated by taking a commission on the sales made through its platform. The marketplace offers products across various categories, including fashion, cosmetics, homeware, and accessories, from over 2,000 brands such as Gucci, Converse, and Superdry. Since its 2020 relaunch, Secret Sales has experienced significant growth, securing a €10 million Series A funding round in 2021 and a $10 million Series B in 2023 to fuel its international expansion. The company has already launched in several European countries, including Ireland, the Netherlands, Germany, and Spain, with plans to become the leading destination for off-price retail in all major European markets by 2025.
Keywords: off-price retail, designer brands, excess inventory, online marketplace, flash sales, fashion discount, luxury goods, e-commerce platform, stockless retailer, sustainable fashion, digital outlet, brand partnerships, European expansion, surplus stock, apparel, accessories, homeware, cosmetics, clothing trends, private purchasing