📈 Secret Sales' Strategic Move
Secret Sales has acquired Afound, H&M's marketplace, as part of its strategy to expand in Europe. Afound, previously shut down by H&M due to low brand demand, finds new life with Secret Sales. The deal adds 10 new territories, strengthening Secret Sales’ footprint across the continent. CEO Chris Griffin said, “We’re setting a new standard for brands to manage discount inventory.” This acquisition aligns with Secret Sales' goal of turning unsold inventory into profitable opportunities while protecting brand equity.
🌍 Expanding into the Nordics
With this acquisition, Secret Sales enters the Nordic market for the first time. Afound was known for offering exceptional value to both brands and customers, a legacy Secret Sales plans to continue. Chris Griffin highlighted that this move gives brands access to new regions while maintaining control over their image. The Nordics will play a key role in Secret Sales' plan to grow its premium off-price solutions across Europe.
🔄 A Relaunch with Potential
Instead of rebranding Afound, Secret Sales will relaunch the platform under its original name. This decision respects Afound’s established reputation while integrating it into Secret Sales’ portfolio. There’s even speculation that H&M might become a seller on the platform they created. Ville Klemming, MD of Afound, expressed confidence in Secret Sales’ ability to uphold the marketplace’s mission of quality and value.
🏆 Redefining Off-Price Retail
The acquisition reflects Secret Sales’ commitment to sustainable retailing by transforming unsold inventory into a profit center. By helping brands protect their reputation while driving sales, the company is setting a benchmark in the off-price segment. This innovative approach positions Secret Sales as the partner of choice for fashion brands looking to navigate today’s challenging retail landscape.
Will Secret Sales dominate off-price fashion in Europe?
