Perwyn-backed Secret Sales, the leading European online marketplace for off-price apparel including Versace and Dolce & Gabbana, has announced that it has appointed Nick Beighton as its Chairman. Nick is the former CEO of ASOS and joins Secret Sales as it targets further international expansion.
Secret Sales partners with leading brands to monetise excess inventory. Its marketplace model and scalable platform allows brands to control pricing, quantity, and timing of sales in real-time. The company has recorded sales growth of over 150% during the last 12 months and has worked with more than 1,600 brands. It has more than 6.5 million registered accountholders. Operating in the UK, Belgium, and the Netherlands, it plans to expand to another 12 international markets over the next two years.
Nick Beighton, incoming Chairman of Secret Sales, said: “For too long, excess stock has been seen in terms of cash recovery, using clearance channels that erode a brand’s image. With Secret Sales, the industry finally has access to a positive strategy for non-full-price inventory, and I am delighted to be joining the company.
“Businesses using Secret Sales can now make significant margins, attract new customers for their own full-price sales, and maintain their brand equity through a simple, elegant and sustainable off-price solution that does not impact the retailers’ own full price strategy.”
Andrew Wynn, Perwyn Founder and Managing Partner, added: “We led the investment round in Secret Sales in June 2021 to support the growth ambitions of the business, which is aiming to become the world’s largest marketplace for non-full-price fashion.
“We believe that Nick Beighton is the perfect fit for the position of Chairman. His wealth of experience at ASOS makes him excellently placed to advance tech development at Secret Sales and to scale the ecommerce platform to compete as a global player in the discount retail space.”
June 2022