Secret Sales, the upscale off-price e-commerce platform, has expanded its presence by venturing into the Irish market. This strategic move taps into the vast potential of Ireland’s 3.4 million online consumers, marking a significant milestone in Secret Sales’ global expansion strategy. The company’s vision is to establish itself as the ultimate destination for discounted retail across major European markets by 2025.
Irish shoppers can now access a treasure trove of over £700 million worth of off-price inventory on Secretsales.com, featuring products from 450 premium brands. This impressive selection includes renowned names such as Dsquared2, Plein Sport, Aquascutum, Cavalli, Diesel, Asics, Hackett, Ted Baker, Superdry, and many more.
This expansion comes on the heels of Secret Sales’ recent acquisition of the Spanish e-commerce business Dreivip, further solidifying its presence in the global market.
CEO Chris Griffin expressed the company’s remarkable growth throughout the year, which has paved the way for this expansion into new territories. The Irish market, in particular, boasts a strong consumer appetite for off-price fashion, aligning seamlessly with the company’s brand and retail partners. Meticulous attention has been given to product selection to ensure it resonates with the Irish audience.
Griffin added, «As we continue our international expansion journey, we are committed to collaborating with our brand and retailer base to enter new markets that align with their business objectives. This approach aims to increase profit margins, reach new customer segments, and safeguard the integrity of their brands.»
The company is on track to conclude 2023 with exceptional year-on-year growth, exceeding 150% across Europe. Inventory growth has been robust, standing at 45% year-to-date, and is expected to surpass 100% following the expansion into Ireland. This translates to a total inventory value linked to the Secret Sales platform exceeding £3 billion.