Secret Sales, a UK-based e-commerce platform for off-price fashion, sportswear, and beauty products, announced on Tuesday that it has acquired Afound, H&M Group’s digital fashion outlet. This acquisition will significantly increase Secret Sales’ exposure to the Nordic market, further solidifying its position in the European off-price retail sector.
The acquisition is part of Secret Sales’ ongoing expansion strategy. The company revealed plans to continue growing in 2025, with additional mergers and acquisitions already in discussion.
Afound, which will relaunch on the Secret Sales platform in early December, will bring a wealth of European inventory to customers. The platform will offer more than €5 billion worth of products from 3,800 brands across Europe.
Launched by H&M Group in 2018 and evolving into a digital marketplace in 2019, Afound featured a curated selection of popular fashion and lifestyle brands, including H&M’s own labels. Operating in seven European markets, Afound struggled to gain sufficient demand, particularly as more brands moved to direct-to-consumer sales. In August, H&M Group announced plans to close Afound by the end of the year.
However, Secret Sales sees value in the platform, particularly due to its expertise in off-price retail. With more than 16 million account holders and over 150 million visits in the last 12 months, Secret Sales is one of the largest players in the off-price sector.
This acquisition strengthens Secret Sales’ European presence, expanding its operations into the Nordics and bringing its reach to 10 countries: the UK, Sweden, Denmark, Norway, Finland, Germany, The Netherlands, Belgium, Ireland, and Spain.
Despite the acquisition, Afound will maintain its brand identity and design aesthetic. However, it will leverage Secret Sales’ advanced technology platform to enhance the customer experience for both brands and shoppers.
Chris Griffin, CEO of Secret Sales, commented: “In today’s challenging retail environment, we’re setting a new standard for managing discount inventory. By bringing Afound into the Secret Sales family, we’re reinforcing our commitment to expanding our premium off-price solutions across Europe and providing brands with greater opportunities to reach customers while preserving their brand positioning.”
Ville Klemming, Managing Director of Afound, expressed optimism about the future: “We’re pleased to see Afound’s legacy continue under Secret Sales. I’m confident that the company will uphold the values of delivering exceptional value to brands and customers. We are grateful to everyone who has contributed to our journey.”
Related topics:
