Secret Sales acquires H&M brand Afound to ‘expand its footprint’ in the Nordics

Secret Sales’ owner Perwyn called the acquisition “a strategic step” for the brand’s European expansion, “expanding its footprint in the Nordics and reinforcing its position as a leading player in the European off-price retail market.

Secret Sales is already one of the largest platforms in the sector, with over 16 million account holders and more than 150 million site visits in the last year.”

Afound currently operates in the UK, Sweden, Denmark, Norway, Finland, Germany, the Netherlands, Belgium, Ireland, and Spain and “is well poised for further growth, with additional organic and acquisitive expansion planned for 2025.”

The digital outlet will be relaunched on Secret Sales’ platform in December, and will “provide customers with access to an extensive inventory valued at over €5bn (£4.17bn), sourced from 3,800 premium brands.”

Secret Sales’ chief executive Chris Griffin said: “In today’s challenging retail environment, we are proud to be setting a new standard for brands and retailers to manage discount inventory in a way that enhances their brand and drives long-term profitability. Bringing Afound into the Secret Sales family reinforces our commitment to growing our premium off-price solution across Europe.

“By expanding into the Nordics, brands now have an even greater opportunity to reach new customers in multiple regions while maintaining control over their positioning. This acquisition is another step toward transforming the off-price landscape.”

Afound managing director Ville Klemming said: “We are pleased to see Afound’s legacy continue under Secret Sales. Afound has always been about delivering exceptional value to brands and customers. I am confident that Secret Sales will continue on that journey with quality and care. We are happy that the brand and the value created can continue to live on, and we are grateful to everyone who has contributed to the journey.”