Former Asos boss Nick Beighton joins online fashion platform Secret Sales
Nick Beighton, the former Asos Chief Executive, is returning to the online fashion sector and taking on the role of Chairman at Secret Sales, which helps premium brands sell surplus stock.
The company, which was bought by retail entrepreneurs Chris Griffin and Matt Purt just over two years ago, recorded sales growth of over 150% during the last 12 months.
It secured €10 million in funding in 2021. This has now been followed up with additional funding to accelerate its international growth strategy.
Secret Sales has operations in the UK, Netherlands and Belgium and plans to expand to a further 12 international territories over the next two years.
“Secret Sales is nothing short of a game changer for the fashion and beauty industry,” says Beighton.
“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 it 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.”
“I am delighted that Nick is joining Secret Sales. He has a wealth of experience from his time at Asos in building a global e-commerce fashion retailer,” says CEO Griffin.
“This is highly relevant as we continue our journey to be the world’s largest marketplace for non-full price fashion. Nick is a natural choice because he understands the critical problem we are solving for the sector.”
“Before our 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.”
