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SecretSales directors exit following sale

Four directors at SecretSales, including chairman Sergio Dias, have left the business following the sale of the flash Sale site to Excalibur Group, the owner of discount deals websites Wowcher and LivingSocial UK and Ireland.

Dias, who joined SecretSales in February 2010, left the business the day the sale completed, 8 February, along with three of the firm’s other directors – Frederic Halley, Nigel Grierson and Craig Anderson – and the company secretary Michael Cody.

Directors of Excalibur Group, Andrew MacKinnon and Roland Bryan, were appointed directors at SecretSales on the same day.

SecretSales co-founders Nish and Sach Kukadia, who are chief executive and buying director respectively, continue to lead the business.

In its most recent results for the year to 31 December 2015, revenues at SecretSales rose 16% to £29.3m year on year, however operating losses grew from £2.2m to £3.6m in 2015 as it invested in its technology and operations to help improve sales conversion.

 

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