Nick Beighton, who left ASOS last year, is to become chairman of the online venture, which helps premium brands like Dolce & Gabbana sell surplus stock, Sky News understands.
Secret Sales provides a distinctive offer to premium brands such as Dolce & Gabbana and Versace, allowing them to monetise their excess stock on its platform while retaining control of products' branding and pricing.
"For too long, excess stock has been seen in terms of cash recovery using clearance channels that erode the brand," he said. "Businesses using Secret Sales can now make significant margin, attract new customers for their own full-price sales and maintain their brand equity through a simple, elegant and sustainable off-price solution that does not impact the retailer's own full-price strategy."
Operating in the UK, Belgium and the Netherlands, it plans to expand to another 12 international markets over the next two years.
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