Think of every day as the Boxing Day sales. Recreate it online. Repeat. Daily.
SECRETSALES.com, founded by brothers Nish and Sach Kukadia, is one of the emerging leaders in the flash sales market, selling hundreds of well-known luxury brands exclusively to its members, all at 30-70 per cent off.
Initially it was just for fashion accessories and shoes, but SECRETSALES.com has expanded into fast moving consumer goods and alcoholic gifts, homeware and beauty products. It carries brands such as Vivienne Westwood, Stella McCartney, Oliver Sweeney and Beats by Dr Dre. At any one time, there will be 20,000 products on the site.
Sales are rising fast, from £18.2m in 2013 to £25.4m in 2014. It is now profitable and has more than four million subscribers. Mobile is driving growth and now accounts for approximately 60 per cent of sales. And as SECRETSALES.com expands its footprint into Europe, invests in technology, data science and brand awareness in this fast-paced sector, things can only get bigger.
In April last year, it raised £4.5m – its third round of funding – from Partech Ventures and French private equity firm 123Venture, as well as from existing investors Pentech International and Doughty Hanson Technology.
SECRETSALES features in:
- Sunday Times Tech Track 2014
- Future Fifty
- LSE Elite
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