Private Sales etailer Brand Alley has posted a 70% sales increase in the first nine months of this year

The retailer has attracted 75,000 new customers and sales soared to £23m over that period boosted by the new brands it has attracted to the site this year.

Brand Alley chief executive Rob Feldmann told the Independent: “The brands have realised it is an unbelievable way of getting new customers, both by driving traffic to their websites and high street stores.”

The online retailer, which specialises in flash sales where designer goods are sold at discounts of up to 70%, works with brands including Ted Baker, Jaeger and Dolce & Gabbana.

Brand Alley, which part-owned by News International, is trying to raise €100m to fund the acquisition of fledgling businesses in the sector. Merrill Lynch was appointed to oversee the process in May.