Off-price specialist Secret Sales acquires German discount fashion and beauty retailer dress-for-less

Secret Sales, a marketplace for off-price retail in fashion, sportswear and beauty, has announced the acquisition of German online retailer, dress-for-less.

Financial terms of the deal were not disclosed.

Pitched as the natural next step on an aggressive merger and acquisition (M&A) strategy, this deal aims to boost Secret Sales’ positioning in Europe, with a presence across six European territories.  

Dress-for-less, which specialises in discount fashion and beauty, had a turnover of 100 million euros in 2023 and counts brands such as Tommy Hilfiger, Calvin Klein and Marc O’Polo as part of its product portfolio.

Acquiring the company will provide Secret Sales’ partner brands and retailers with access to an increased market share and millions of customers across Europe.

Dress-for-less will be powered by Secret Sales’ backend technology platform, but keeps its brand name, look and feel, and with a significantly increased inventory of in excess of three billion euros made available to its customers. 

According to a press release: “For retailers and brands, the acquisition enables them to further expand and control their pan-European off price strategies with Secret Sales through one single platform, connected across multiple territories, while maintaining brand equity and enhancing profitability for them at every touchpoint.”

This acquisition marks the sixth European territory Secret Sales counts in its European off-price retail powerhouse, having established itself in the UK and expanded into Ireland, Belgium, the Netherlands and Spain.

Secret Sales says that it is actively pursuing other significant targets across Europe.  

Chris Griffin, CEO, comments: “We are set to dominate off-price fashion and beauty, and more importantly give brands, through one partner of choice, a route to control and profit from their non full price strategies across Europe.”

“We see it as our number one goal to protect a brand’s equity while driving increased profits to their P&L. By delivering these objectives and driving our growth strategy we are delivering our promise to our partners.”

“The retail space hasn’t had it easy, but we’re continuing to see unprecedented growth in the off-price space.”

“Dress-for-less is second-to-none in the space in Germany and forms a key part of our growth. For brands and retailers, the potential for pan-European control and expansion offers significant revenue opportunities.”

“And, for Secret Sales and dress-for-less' customers alike, there is now more choice than ever before.”