Germany's leading online private shopping club, brands4friends.de, has made a "significant investment" in UK-based Secretsales.com.
Since its launch two years ago brands4friends has built annual revenues of €80m and, says the company, "the investment accelerates the international expansion of brands4friends.de and will allow Secretsales.com to become the UK's leading online private shopping club."
Established in London in July 2007, Secretsales.com offers a diverse portfolio of lifestyle, fashion, homeware and leisure product categories spanning over 450 partner brands.
"After carefully examining various options, it quickly became apparent that Secretsales.com was our first choice in the UK," says Christian Heitmeyer, CEO and founder of brands4friends.de. "The combination of entering one of the largest and most key ecommerce markets in Europe and partnering with Secretsales.com holds enormous potential."
"The existence of a strong management team led by CEO Nish Kukadia and our learning curve convinced us that together we will reach the leading UK position," he added. "The expansion will benefit our valued brand partners in terms of brand awareness, sales and image and also our customers by gaining access to even more top brands from the planned portfolio expansion."
"Having brands4friends.de on board provides Secretsales.com with the best route to realising our plans and pursuing an aggressive growth strategy," adds Nish Kukadia, chief executive at Secretsales.com. "The brands4friends.de team in Germany has already demonstrated an exceptional capacity to create a market-shaking online shopping club business. We will work closely to share and capitalise on their learnings, technology, marketing intelligence, infrastructure and cross-sourcing opportunities, which will undoubtedly benefit the combined supplier portfolio and extensive customer base."