Secret Sales acquires Spanish fashion retailer Dreivip

Secret Sales, a well-known fashion marketplace in the UK offering discounted premium fashion items, has acquired Dreivip, an online fashion retailer based in Spain. This move is part of Secret Sales’ expansion strategy into Europe.

Secret Sales has been actively expanding its presence in Europe, including recent expansions into the Netherlands and Belgium. The acquisition of Dreivip, which has a significant user base of 2.7 million in Spain, will provide a gateway for brands and retailers to swiftly connect with a new customer base in the clothing sector.

Dreivip will continue its regular business operations until the planned launch of a new co-branded website in October. Initially, the website will feature around 450 products. Additionally, discussions are in advanced stages with approximately 70 more Spanish brands and shops to join the platform.

With this acquisition, Secret Sales envisions a substantial growth in revenues. They predict a remarkable 150% increase in revenues year over year for all of Europe in 2023. Following the launch, Secret Sales also expects a 100% year-over-year growth in its inventory.

In May, Secret Sales secured a funding of US $10 million to expedite its progress towards its goal of becoming the largest non-full-price apparel marketplace in Europe. This financial backing empowers them to pursue their expansion and growth plans effectively.