Secret Sales has acquired Spanish online fashion retailer Dreivip, as the brand expands further into Europe.
The move forms the start of a merger and acquisition strategy for the discounter after it recently expanded into the Netherlands and Belgium.
Purchasing Dreivip, which has 2.7m members in Spain, will give brands and retailers immediate access to a host of new clothes shoppers.
Dreivip will continue trading as normal until a new co-branded website goes live in October.
The website will initially launch with around 450 brands, with a further 70 Spanish brands and retailers currently in advanced stage conversations.
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The acquisition means the fashion company expects a 150% sales growth year over year throughout the whole of Europe for 2023, following on from last year’s growth of 70%.
Secret Sales also expects its inventory to increase by 100% year on year following the launch.
Back in May, Secret Sales secured $10m in funding, as it sought to accelerate its journey towards becoming Europe’s largest marketplace for non-full-price fashion.
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