Flash Sale site SecretSales has been sold to the newly launched platform business Lifestyle Retail Group (LRG) for an undisclosed amount, and is relaunching as a “360-degree retail platform” later this year.
The new SecretSales site will be unveiled in the fourth quarter of 2019.
LRG said it is transforming SecretSales from a “campaign-led flash Sale company” to a multichannel off-price retailer, comprising a new marketplace, individual brand digital storefronts, consignment, wholesale, and physical pop-up shops across the European Union.
As part of the update, brands will launch and control their own digital storefronts, which LRG hopes will better present individual brands and enhance the customer experience.
The site will offer a range of fashion, sportswear, beauty and homeware from some of its existing brands, which it declines to name, as well as new labels that are yet to be announced. Products will be available exclusively to LRG members and not be featured on off-site product feeds, such as Google or Facebook listing ads.
SecretSales will be led by LRG CEO Chris Griffin, former director of ecommerce at Superdry, and co-founder Matt Purt, former head of new business partnerships at Ebay. SecretSales co-founders Nish and Sach Kukadia remain on the board as board members and advisers.