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Brands4Friends ups stake in Secretsales

Private Sales site has received a second round of investment and made key appointments to its buying team to bolster growth.

The investment by German private Sales retailer Brands4­Friends is understood to be worth millions of pounds. It will take a majority stake in the business.

Brands4Friends, which has an annual turnover of E80m (£66m) in Germany, becomes the majority shareholder in the business, which was established in July 2007 by Sach and Nish Kukadia and Silvia and Michael Cody. Brands4Friends first injected an undisclosed amount into the business in February.

Secretsales, which sells brands at a discount exclusively to its members, will use the cash to step up its marketing activity.

Secretsales has also made a number of key appointments to its buying department. It has poached brand manager John McKenzie from rival private Sale site BrandAlley as associate buying director. He will start in November.

Steven Kelly, former sales director at German brand Marc O’Polo, has been appointed as a senior buyer, while Natalie Holder, former buyer at department store chain Fenwick, will be head of buying for lingerie. Melanie Smallwood, previously senior buyer at luxury department store Harvey Nichols, has joined as head of womenswear.

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