Tuesday, January 26, 2021

4 SecretSales directors depart after Excalibur acquisition

SecretSales has seen an exodus of its senior staff members as four directors depart the flash sales website following its acquisition.

The discount designer fashion brand was purchased earlier this month by Wowcher owner Excalibur, for an undisclosed sum. It is expected to invest heavily in the business over the next few years.

On completion of the sale four of the company‘s directors left immediately, including the chairman Sergio Diaz.

Co-founders Nish and Sach Kukadia will keep their roles as chief executive and buying director, with the other director roles being replaces by Excalibur Group directors Andrew MacKinnon and Roland Bryan.

Revenues for the year to December 31 2015, the latest figures published, roase by 16 per cent to £29.3 million. However, the etailer saw significant operating losses as it invested in technology and operations, rising from £2.2 million to £3.6 million.

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