Secret Sales acquires H&M's Afound, accelerating growth across Europe

Secret Sales, the leader in the off-price retail market, has announced a significant milestone in its expansion strategy with the acquisition of Afound, the digital fashion outlet previously owned by H&M Group. This acquisition solidifies Secret Sales' presence across 10 European territories, advancing the company’s mission to provide fashion brands with a premium platform to manage non-full-price inventory while maintaining brand equity and profitability.

The deal marks a major step in Secret Sales' journey, as the company continues to innovate and reshape the off-price sector with a tech-driven approach. With this acquisition, Secret Sales further extends its footprint across Europe, following previous acquisitions of Dress for Less and Dreivip.com. The company now operates in 10 countries and partners with over 3,800 global brands, boasting 16 million customers and €5 billion (~$5.26) in inventory.

“Secret Sales has acquired Afound, H&M Group’s digital fashion outlet. This exciting move marks our expansion into the Nordic markets, solidifying our presence across 10 European countries and reaffirming our position as a leader in the off-price retail space,” Matthew Purt, founder of Secret Sales, said in a LinkedIn post.

“Really excited about the news today, of us closing another landmark M&A deal to acquire the previously H&M owned marketplace Afound in the Nordics. This now puts us in 10 territories across Europe and further accelerates our mission to be the partner of choice for fashion brands to sell non full price inventory that enhances their core strategies , well protecting brand equity and still making strong margins,” Chris Griffin, CEO and founder of Secret Sales, said in a LinkedIn post.

Fibre2Fashion News Desk (HU)