Secret Sales has posted a record year for growth across its marketplace with chief executive Chris Griffin saying the brand is now “one of Europe’s fastest-growing fashion ecommerce platforms”.

ASOS X Secret Sales launch (1)

Secret Sales recently announced a partnership with Asos

Secret Sales recorded a 70% surge in like-for-like sales growth last year and reported an 80% jump in like-for-like growth in sales in January 2023.

The premium non-full-price marketplace, which stocks fashion, sportswear and beauty brands, posted a 125% increase in total inventory year on year for the 12 months to December 31, 2022, with its stock amounting to a total of £3bn.

Profit and revenue figures were not disclosed by Secret Sales.

The business, which recently unveiled its partnership with Asos, also reported a 104% increase in partnership growth year on year. It now sells 2,469 brands online including Puma, Kurt Geiger and Dolce & Gabbana.

Secret Sales said it plans to continue growing internationally, following its launches in the Netherlands and Belgium last April, and maintains its plans to open in five new markets this year.

Secret Sales told Retail Week that 85% of the top 500 fashion brands globally are “either live or progressing in the pipeline to go live on Secret Sales’ marketplace in the next year”.

Results from a poll carried out by Secret Sales in November show shoppers between aged 18 to 30 are “starting to turn away from fast fashion and instead look to make quality investments that are guaranteed to last years, not months”.

Griffin said: “The cost-of-living crisis has triggered an increased appetite for both the circular fashion economy and more specifically non-full price. 

“We anticipate that consumers will continue to invest in quality goods at affordable prices, especially while everyone feels the impact of the current climate. 

“Brands and retailers need to seriously consider this behaviour within their wider business strategies by ensuring they are factoring in non-full price as a long-term profitable solution. 

“The success we have seen and continue to see highlights how critical it is that retailers and brands change their attitude to discount by harvesting the benefits we deliver of making good margin and acquiring new customers, while not eroding their brand equity. 

“As we expand our Secret Sales team to continue to build on our success, we look forward to working with more partners throughout Europe to help create a more sustainable future for fashion.”

Secret Sales recently named Tom Kelly as its first country manager for Benelux. He joins senior appointments including Sam Roberts as chief financial officer and Alex Adamson as senior vice president of marketing.