Providing major exposure to the Nordics market
We are delighted to announce that our portfolio company, Secret Sales, an international off-price fashion marketplace, has acquired H&M Group’s digital fashion outlet, Afound.
This acquisition represents a strategic step in Secret Sales’ European growth, expanding its footprint in the Nordics and reinforcing its position as a leading player in the European off-price retail market. Secret Sales is already one of the largest platforms in the sector, with over 16 million account holders and more than 150 million site visits in the last year. With operations spanning 10 countries, including the UK, Sweden, Denmark, Norway, Finland, Germany, the Netherlands, Belgium, Ireland, and Spain. The company is well poised for further growth, with additional organic and acquisitive expansion planned for 2025.
The integration of Afound, which will relaunch on the Secret Sales platform in December, will provide customers with access to an extensive inventory valued at over €5 billion, sourced from 3,800 premium brands. Afound will maintain its unique brand identity and design aesthetic while leveraging Secret Sales’ cutting edge technology platform to deliver a seamless experience for brands, retailers, and consumers alike.
Chris Griffin, CEO of Secret Sales, said: “In today’s challenging retail environment, we are proud to be setting a new standard for brands and retailers to manage discount inventory in a way that enhances their brand and drives long-term profitability. Bringing Afound into the Secret Sales family reinforces our commitment to growing our premium off-price solution across Europe. By expanding into the Nordics, brands now have an even greater opportunity to reach new customers in multiple regions while maintaining control over their positioning. This acquisition is another step toward transforming the off-price landscape.”
Ville Klemming, Managing Director of Afound, added: “We are pleased to see Afound’s legacy continue under Secret Sales. Afound has always been about delivering exceptional value to brands and customers. I am confident that Secret Sales will continue on that journey with quality and care. We are happy that the brand and the value created can continue to live on, and we are grateful to everyone who has contributed to the journey.”
Angus Duthie-Jackson, Investment Manager at Perwyn, said: “Secret Sales has made exceptional progress in becoming a truly international business, now operating in ten key European markets. Its expansion into the Nordics further strengthens its ability to deliver sustainable off-price solutions to brands and customers at scale.
“We are very proud to support Secret Sales on its rapid growth trajectory. We welcome conversations with similar businesses in Europe interested in joining this exciting growth story.”