We asked all our winners in this year’s Transforming Retail Awards to tell us how they felt about winning their category. So here is our Q & A with Secret Sales on their plans for the future.
How do you feel about winning this award?
We are thrilled to have won the prestigious Editor’s Special Choice award, it’s a great achievement. This industry recognition further validates our unique business model which enables brands and retailers to sell excess inventory in an upmarket, profitable and sustainable way.
Why do you think your entry stood out?
We are revolutionising the discount sector. The fashion industry was fed up with conventional, brand-corrosive routes for selling overstock, and the system needed an overhaul. By partnering with Secret Sales, brands and retailers no longer need to view non full price inventory solely in terms of cash recovery. Our platform allows them to sell overstock while preserving and growing rather than eroding brand equity, and drives new customer acquisition where customers can choose to hear directly from brands’ full price channels.
Brands and retailers have been quick to pick up on the powerful benefits of our marketplace, and we saw growth of 4,000% in our first year. We currently partner with 900 companies including Dolce & Gabbana, Versace 19v69, Superdry and Jigsaw, and offer over 85,000 product lines.
What plans do you have for your company in the coming year?
We have recently secured €10m in Series A funding which means we can accelerate plans to become the largest non full price online marketplace for fashion and beauty worldwide. We have also hired an elite senior team in six newly-created director positions to drive our global expansion and are due to go live in six European countries over the next 12 months.
It’s going to be an exciting year ahead for us as we continue to spearhead a revolution that puts ‘brand’ first in the discount sector.