Secret Sales acquires H&M Group’s Afound

Off-price marketplace Secret Sales has snapped up digital fashion outlet Afound from its former parent company H&M Group.

The move comes as Secret Sales looks to continue positioning itself as a “dominant force” in European off-price retail, an effort that has already been reflected in similar acquisitions over the course of the past few years.

With Afound, Secret Sales plans to amplify the marketplace’s reach, with Afound customers to be able to access the company’s inventory derived from 3,800 European brands.

The platform was first launched in 2018 by H&M Group and eventually evolved into a digital marketplace offering a curated collection of popular fashion and lifestyle brands.

In August 2024, however, H&M made the decision to discontinue Afound after reviewing its performance and adjusting to priorities in what it said was an attempt to “secure economic viability and long-term resilience”.

Under Secret Sales, which said the acquisition reflected “commitment to strategic growth”, Afound will retain its brand identity and design aesthetic, while incorporating Secret Sales’ technology platform.

In a release, chief executive of Secret Sales, Chris Griffin, said: “By expanding into the Nordics, brands now have an even greater opportunity to reach new customers in multiple regions while maintaining control over their positioning. This acquisition is another step toward transforming the off-price landscape.”

The terms of the deal were not disclosed. Secret Sales did, however, note that it plans to continue expanding in 2025, with further M&A deals already in discussion.