Secret Sales, the UK’s marketplace for off-price retail in fashion, sportswear and beauty, today announces the next step in its international expansion with the acquisition of respected German online retailer, dress-for-less. The natural next step on an aggressive merger and acquisition (M&A) strategy, this deal solidifies Secret Sales as one of the most formidable discount retailers in Europe, with presence across six European territories.
Dress-for-less, which specialises in discount fashion and beauty, boasted a turnover of 100 million euros in 2023 and counts brands such as Tommy Hilfiger, Calvin Klein and Marc O’Polo as part of its product portfolio. Acquiring the established powerhouse will provide Secret Sales’ partner brands and retailers with access to a dramatically increased market share and millions of customers across Europe. Dress-for-less will be powered by Secret Sales’ backend technology platform, but keeps its brand name, look and feel, and with a significantly increased inventory of in excess of 3 billion euros made available to its customers.
For retailers and brands, the acquisition enables them to further expand and control their pan-European off price strategies with Secret Sales through one single platform, connected across multiple territories, while maintaining brand equity and enhancing profitability for them at every touchpoint.
This acquisition marks the sixth European territory Secret Sales counts in its European off-price retail powerhouse, having already established itself in the UK and expanded into Ireland, Belgium, the Netherlands and Spain. Looking ahead, Secret Sales is actively pursuing other significant targets across Europe.
Secret Sales is set to dominate off-price fashion and beauty, and more importantly give brands, through one partner of choice, a route to control and profit from their non full price strategies across Europe. We see it as our number one goal to protect a brand’s equity while driving increased profits to their P&L. By delivering these objectives and driving our growth strategy we are delivering our promise to our partners.
The retail space hasn’t had it easy, but we’re continuing to see unprecedented growth in the off-price space. Dress-for-less is second-to-none in the space in Germany and forms a key part of our growth. For brands and retailers, the potential for pan-European control and expansion offers significant revenue opportunities. And, for Secret Sales and dress-for-less’ customers alike, there is now more choice than ever before.
– Chris Griffin, CEO, Secret Sales
