Private sales etailer Secret Sales has harnessed significant new investment to press ahead with major UK expansion plans, with an increased marketing drive and diversification into new markets.
Bolstered by a second injection of investment by German majority shareholder Brands4Friends, a figure understood to run into several million pounds, the etailer - which sells brands at a discount exclusively to members - will use the investment to step up its marketing activity with a view to educating UK customers about private sales and entice new customers.
It will also update its supply chain procedures and make further appointments to help growth.
Secret Sales founder and chief executive Nish Kukadia said one of the key expansion strategies will be an increased diversification of brand offerings - it originally started as a pure fashion etailer but is now expanding the range of products it sells to include non-fashion offerings from homewares to electronics and even holidays and property.
Kukadia said: “Our aim is to be in the leading position in the UK online private sale market not just in fashion.”
Brands4Friends made an initial undisclosed investment in Secret Sales in February.