Secret Sales is part of Perwyn’s portfolio, a European private equity investor.
— H&M Group’s digital fashion outlet Afound has been acquired by Secret Sales, an off-price fashion marketplace.The business acquired Afound in order to expand its footprint in the Nordics and to strategize its European growth.
In the last year, Secret Sales has accumulated 16 million account holders; had more than 150 million site visits, and operates within the U.K.,“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.
“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. ThisAfound will relaunch in December on the Secret Sales platform with an inventory that’s valued at over 5 billion euros with sourcing from 3,800 premium brands, according to the business.“Afound has always been about delivering exceptional value to brands and customers.
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