Secretsales.com annual revenues rise 39 percent

Secretsales.com, the UK’s largest flash sales business for fashion, accessories, footwear and lifestyle products, for the year ended December 31, 2014 said that the revenue increased 39 percent to 25.2 million pounds (39.2 million dollars). Registered members during the year increased by 22 percent, underpinned by focused marketing strategy. Operating losses reduced by 40 percent and the company achieved profit in the final quarter.

Commenting on the company’s performance, Nish Kukadia, CEO of Secretsales.com, said, “2014 was the year Secretsales became an established and important player in the minds of consumers and major brand partners. The momentum that was evident throughout 2014 has continued into 2015 with strong sales growth and improved financial metrics. We continue to invest aggressively in technology to further extend our number one position in the UK market and to deliver an enhanced consumer offering.”

During the year under review, the company extended its category range to include accessories, footwear, apparel, children’s wear, lingerie, beauty and homeware and lifestyle. Over 300 new brand agreements were signed in the year and sales events in 2014 went up 37 percent on the previous year. With its ‘mobile first’ strategy on track, the company witnessed 60 percent of revenue generated via mobile devices compared to 50 percent in 2013.

Secretsales.com has reported a strong start to the year, with first four months sales growth of 37 percent. The company further plans to invest in technology and aims to double the size of the team during 2015. 124 new brands were signed in the first quarter of 2015 and the company secured an additional 3 million pounds (4.6 million dollars) to accelerate growth.