Aggressive International Strategy Drives 150% Growth by 2023
- Secret Sales expands into Ireland
- Platform gives access to £700m worth of off-price inventory from 450 premium brands
- Growth expected to exceed 150% year-on-year across Europe by 2023
- Inventory growth at +45% YTD, projected to reach +100% YoY after Ireland expansion
- Total inventory value linked to Secret Sales platform: over £3bn
Secret Sales, a marketplace for off-price retail in fashion, sportswear and beauty, has expanded into Ireland. The platform offers access to over £700m worth of off-price inventory from 450 premium brands like Dsquared2, Plein Sport, Aquascutum, Cavalli, Diesel, Asics, Hackett, Ted Baker, and Superdry. This expansion caters to Ireland’s strong consumer appetite for off-price fashion and aligns with the business needs of brand and retail partners. Secret Sales aims to become the go-to destination for non-full price retail in main European markets by 2025 after acquiring Spanish ecommerce leader, Dreivip. The company is on track to achieve over 150% growth across Europe by 2023 with inventory growth at +45% year-to-date and projected to exceed +100% year-on-year following the Ireland launch.
Factuality Level: 8
Factuality Justification: The article provides accurate information about the expansion of Secret Sales into Ireland, mentions the brands available on the platform, and quotes the CEO’s perspective on the growth and strategy. However, it lacks some specific data or statistics to support the claims made about the Irish market demand and the impact of the expansion.
Noise Level: 3
Noise Justification: The article provides relevant information about the expansion of Secret Sales into Ireland and its impact on the Irish market, as well as the company’s growth plans and inventory value. It also includes a quote from the CEO. However, it lacks in-depth analysis or exploration of long-term trends or consequences of decisions.
Financial Relevance: Yes
Financial Markets Impacted: Online fashion retail market in Europe
Financial Rating Justification: The article discusses the expansion of Secret Sales into Ireland, which is a financial topic as it pertains to online retail and its impact on the off-price fashion market in Europe.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
www.retailsector.co.uk