Disrupting the world of off-price sales
Chris Griffin, CEO of Secret Sales, is a retail innovator with a bold vision: transforming how brands manage discounted inventory while preserving brand equity. Since acquiring Secret Sales in 2020, Griffin has overhauled it from a flash sale platform into one of the largest online marketplaces for discount fashion, apparel, and beauty. Speaking candidly, he shares how Secret Sales is not only solving a long-standing problem for major brands but also redefining what sustainable, profitable discounting can look like in retail.
Acquiring Secret Sales: A Timely Opportunity
When Griffin acquired Secret Sales, the world was on the brink of the first COVID-19 lockdown. “I bought it three weeks before the first pandemic,” he recalls. “It was an interesting time.” Despite the uncertainty, he saw potential in the platform’s existing customer base and its ability to meet a critical industry need.
Secret Sales was initially a flash sales business, but Griffin was never a fan of the model. “The flash sale model offers a poor customer experience—long delivery times, fragmented stock handling, and ultimately low profitability for brands,” he explains. With turnover declining, the business was ripe for reinvention. Griffin’s approach was clear: “We saw a gap in the market to create a platform where brands and retailers could turn clearance and non-full-price inventory into a profit centre, while protecting brand equity.”
A New Model for Discount Retail
Griffin’s strategy was built on experience. Before acquiring Secret Sales, he had owned a successful software company that provided technology solutions to 85% of the world’s top 100 retailers across 45 countries. “I sold that business to Zalando, where the technology now powers their marketplace,” he explains. This deep understanding of retail technology and brand needs laid the groundwork for Secret Sales’ transformation.
“Every major brand I worked with had the same problem—how to manage end-of-season or excess inventory without eroding brand equity,” Griffin says. Traditionally, brands would sell surplus stock to third parties at cost or below, losing control of pricing and presentation. “The days of selling excess inventory just for cost recovery are over. Brands want—and need—to turn this into a profitable, sustainable strategy.”
Empowering Brands to Retain Control
One of the key differentiators of Secret Sales is its partnership approach. “We let brands retain control,” Griffin emphasises. “They choose which products to list, set their own prices, and provide the imagery and marketing materials we use on the platform.” This level of control ensures that brands feel confident in how their discounted products are presented to consumers.
Griffin highlights that Secret Sales carefully curates its product listings. “We don’t just take everything. We work with brands to decide what will sell and guide them on pricing.” By maintaining this collaborative approach, Secret Sales creates a marketplace that feels premium, rather than chaotic.
Unlike many discount platforms, Secret Sales focuses solely on fashion, apparel, and beauty. “We don’t want to dilute the experience. You won’t find sportswear next to a vacuum cleaner,” Griffin jokes. This sharp focus allows the platform to maintain a cohesive, brand-friendly aesthetic.
Sharing Data: A Game-Changer for Brands
Another unique aspect of Secret Sales is its willingness to share customer data—a rarity in the marketplace world. “Most marketplaces want to own the customer. We do the opposite,” Griffin explains. Through a double opt-in system, customers can choose to receive communications directly from the brands they purchase. “In December, we drove 60,000 new customers to brands they’d never interacted with before,” he says proudly.
This approach benefits both parties: brands gain new customers without incurring typical acquisition costs, and consumers receive personalised offers from brands they’re interested in. “It’s a win-win. We make money, protect the brand, and create new customers for our partners,” Griffin summarises.
The Economics of Marketplace Retail
Secret Sales operates as a 100% marketplace, meaning it holds no inventory. “We take inventory feeds directly from brands and retailers, and they fulfil the orders,” Griffin explains. This model reduces stock movements, minimises costs, and improves margins for brands.
Griffin contrasts this with traditional alternatives like selling to discount chains. “When you sell to a chain like TK Maxx, you lose control, and the profitability is often several hundred percent lower than what we offer,” he says. By covering customer service, payment processing, and marketing costs, Secret Sales provides an attractive, low-risk route for brands to clear stock profitably.
Looking to the Future
Griffin is optimistic about the future of discount retail, but he’s also clear-eyed about the challenges. “Retail is evolving rapidly, and brands need to be smarter about how they handle non-full-price inventory,” he says. With Secret Sales, he aims to set a new standard—one that’s profitable, sustainable, and brand-friendly.
Looking ahead, Griffin sees further opportunities in technology and data. “We’re exploring ways to deepen our partnerships with brands, perhaps through more advanced data analytics and customer insights,” he hints. The goal is to keep innovating while staying true to the platform’s core mission: helping brands turn clearance stock into a strategic asset.
Advice for Retail Professionals
Reflecting on his journey, Griffin offers valuable advice for those in retail: “Understand your customers, and don’t be afraid to challenge traditional models. The retail landscape is changing—those who adapt will thrive.”
He also emphasises the importance of partnerships. “Whether it’s with suppliers, brands, or tech providers, collaboration is key. No one can do it alone.”
Chris Griffin’s leadership at Secret Sales is a case study in how innovation, partnership, and a deep understanding of industry needs can turn a struggling business into a thriving, future-focused platform. As retail continues to evolve, Secret Sales stands as a beacon for brands looking to manage their inventory profitably while maintaining control and protecting their brand equity.
