Puma enlists Secret Sales as UK online marketplace partner
Secret Sales, a marketplace for fashion, sportswear and beauty brands, has announced a partnership with Puma.
As a result, the sportswear retailer will be able to distribute excess inventory and made for outlet products on Secret Sales’ marketplace.
According to Puma, this means it can “focus on full price inventory on its own sites and other channels whilst having full control of its brand, offer and pricing on Secret Sales”.
The firm plans to double its active listings on the marketplace to over 1,500 products before the end of September.
Simon Venediger, Chief Financial Officer at Puma UK, comments “We chose to partner with Secret Sales due its positioning as the UK's leading off-price premium fashion marketplace. Their model allows us to operate a DTC channel with the aim of optimising inventory levels.”
Matt Purt, Co-Owner and CCO at Secret Sales, adds “It’s great to see this partnership mark a first for Puma in driving a sustainable non-full-price solution, without impacting the brand's full price strategy.”
“Puma will join our premium community of brands and retailers who are already seeing huge success with Secret Sales, by making greater margins while reducing marketing costs and stock movements.”
“Our mission is to revolutionise how brands and consumers view excess stock and Puma plays an important role on that journey.”
New Tokyo
Puma recently entered New Tokyo, the virtual city 10KTF calls home.
The shop is known for its streetwear offerings and is owned by Wagmi-san, a digital artisan whose collections and NFT community recently welcomed the sports brand.
News of the partnership was shared at an event hosted by 10KTF in New York.
This was one of many hosted during the week of NFT.NYC, a conference attended by crypto industry professionals, traders, and other Web3 enthusiasts.
The official announcement confirmed weeks of speculation after Puma tweeted a video previewing the new release of a classic sneaker. Camouflaged in the video is a frame with the shop’s logo and Wagmi-san at his storefront.
Continue reading…