Griffin and LRG co-founder Matt Purt made hay from the sale of their previous company – supply chain tech provider Anatwine – and are now turning their attention to off-price.

Griffin and Purt have partnered with private equity firm Big Ideas Group to buy a majority stake in Secret Sales under their newly formed company.

As part of the deal, Secret Sales founders and former owners Nish and Sach Kukadia will maintain a minority stake in the company and take a place on the LRG board.

LRG is now in acquisition discussions with other retailers and brands within the off-price sector as it seeks to build a business focused on optimising the supply chain through clearing stock.

Griffin tells Retail Week the idea came from their time running Anatwine, a company they set up that provided a supply chain solution to optimise full price inventory sales between brands and retailers.