Former Asos boss appointed chairman of Secret Sales

Former Asos boss Nick Beighton has been appointed chairman of Secret Sales.

Secret Sales, founded in 2006, works with luxury retailers to sell off their excess stock.

The company was purchased by the Lifestyle Retail Group (LRG) in 2019, which is led by UK retail entrepreneurs Chris Griffin and Matt Purt.

Secret Sales claims sales growth of 150 per cent over the past two years.

There was no indication provided about when Beighton will commence his new role.

Reports are currently circulating about who is set to replacement Beighton at the helm of Asos.

José Antonio Ramos, who currently serves as chief commercial officer at the online retailer, has been pipped to replace him.

"For too long, excess stock has been seen in terms of cash recovery using clearance channels that erode the brand," said Beighton. "With Secret Sales, the industry finally has access to a positive strategy for non-full-price inventory.”

He added: "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."

Chris Griffin, chief executive of Secret Sales, said: “Nick is a natural choice for Secret Sales because he understands the critical problem we are solving for the sector.

“Before Secret Sales Marketplace, there wasn’t a fully joined-up proposition for turning non-full-price stock into a boardroom positive.”

He added: “Secret Sales offers a unique solution and Nick and I will work to deliver huge international growth.”

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