Secret Sales continues European expansion as it acquires Spanish online fashion retailer Dreivip
Secret Sales, a platform and marketplace for off price retail in fashion, sportswear and beauty, has announced the acquisition of Spanish discount retailer, Dreivip.
Financial terms of the deal were not disclosed.
It follows UK-based Secret Sales’ recent expansion into the Netherlands and Belgium, making this the third European territory for the company.
Dreivip will continue to trade as normal until a new co-branded site goes live in October. This will launch with approximately 450 brands, with a further 70 Spanish brands and retailers in advanced stage conversations.
Chris Griffin, CEO, Secret Sales, says “Secret Sales is a disruptor, we have a revolutionary business model that is a win-win for brands, retailers and consumers. Brands are increasingly turning to us when they want off-price to be on-brand and profitable.”
“Despite the difficult retail climate, we are seeing significant growth, and the expansion into Spain is just the start of a wider pan European strategy to ensure that more brands and retailers get to experience the unique benefits of our platform.”
“We are already in active and advanced discussion with a further 70 local Spanish brands that are very excited about our unique proposition.”
Cristina Miret, CEO, Dreivip, comments: “We are thrilled to join the Secret Sales family and experience the amazing benefits of transforming us from a fashion flash sales business to becoming Spain's leading platform for non full price fashion, sportswear and beauty.”
“To be able to showcase up to €3.5 billion in inventory to our loyal customer base will deliver huge value whilst representing a pioneering move within the Spanish market that aligns with what brands, retailers and customers want.”
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