The founders of flash Sales site SecretSales, Nish and Sach Kukadia, have completed a management buyout of the company, alongside new investor Big Ideas Group.
The Kukadias plan to drive an increased focus on the premium and luxury market. Big Ideas Group will bring financial investment, marketing expertise and bricks-and-mortar opportunities through invite-only designer Sales.
SecretSales was previously sold to Excalibur Group, the owner of discount deals websites Wowcher and LivingSocial UK and Ireland, in February 2017 for an undisclosed amount, as exclusively revealed by Drapers.
The value of the Kukadias’ MBO deal has not been revealed.
Sach Kukadia said: “We are delighted to have the control to now focus on growing our customer base, and to build on the work done in 2017 to improve service levels and delivery times.”
SecretSales was founded in 2007.