Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

SecretSales reduces losses

Flash Sales site has narrowed its operating losses by 40% from £3.7m to £2.2m for the year to December 31, 2014, as sales increased by 39% to £25.2m.

As expected, the business, which was founded by brothers Nish and Sach Kukadia in 2007, turned its first profit in the fourth quarter of 2014. It declined to provide figures.

During the year, SecretSales added flash Sales for electronics to its existing offer of menswear, womenswear, footwear, kidswear, lingerie and accessories.

Sales from mobile devices generated 60% of revenue, up from 50% in 2013.

In the first four months of 2015, SecretSales has seen a 37% increase in turnover and signed up 124 new brands to the site.

Nish Kukadia, who is chief executive, said: “The momentum that was evident throughout 2014 has continued into 2015 with strong sales growth and improved financial metrics. We continue to invest aggressively in technology to further extend our number one position in the UK market and to deliver an enhanced consumer offering, underpinned by a highly scalable, best-in-class platform and supporting infrastructure.

“We are confident in the future and in delivering on our strategic objectives.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.