Former Asos chief executive Nick Beighton is set to become chair of discount fashion platform Secret Sales.
Beighton, who exited Asos in October, will work in conjunction with Secret Sales chief executive Chris Griffin to help grow the platform, expand interanationally and hone its sustainability strategy.
Secret Sales was acquired by LRG Online in 2020 and has recorded year-on-year growth of 150% in like-for-like sales despite the challenges of the pandemic.
The platform secured €10m (£8.5m) funding in 2021 and has secured an additional undisclosed sum this year to fuel its international expansion.
The business currently operates in the UK, the Netherlands and Belgium, and plans to grow this to 12 new territories over the next two years.
Beighton said: “Secret Sales is nothing short of a game-changer for the fashion and beauty industry.
“For too long, excess stock has been seen in terms of cash recovery using clearance channels that erode the brand, but with Secret Sales, the industry finally has access to a positive strategy for non-full-price inventory.
”Businesses using Secret Sales can now make significant margin, attract new customers for their own full price sales and maintain their brand equity through a simple, elegant and sustainable off-price solution that’s does not impact the retailers’ own full-price strategy. That is a huge deal for anyone in sector and the scope for growth is astronomical.”
Griffin added: “I am delighted that Nick is joining Secret Sales. He has a wealth of experience from his time at Asos in building a global ecommerce fashion retailer. This is highly relevant as Secret Sales continues its journey to be the world’s largest marketplace for non-full-price fashion.
“Nick is a natural choice for Secret Sales because he understands the critical problem we are solving for the sector. Before Secret Sales Marketplace, there wasn’t a fully joined-up proposition for turning non-full-price stock into a boardroom positive. Secret Sales offers a unique solution and Nick and I will work to deliver huge international growth”.
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