Puma makes Secret Sales its first non-full price UK marketplace partner
Puma has confirmed a “first-of-its-kind” partnership with Secret Sales which will enable the sportswear retailer to distribute excess inventory and made-for-outlet products on the fashion marketplace.
The partnership is described as “a sustainable non-full price solution without impacting the brand’s full-price strategy”, and the alliance enables Puma to make strong margins while gaining new customers and “maintaining brand equity”.
Simon Venediger, Chief Financial Officer at Puma UK, said: “Puma chose to partner with Secret Sales due its positioning as the UK's leading off-price premium fashion marketplace. Their model allows us to operate a DTC channel with the aim of optimising inventory levels.”
Matt Purt, Co-Owner and CCO at Secret Sales, commented: “It’s great to see this partnership mark a first for Puma in driving a sustainable non-full-price solution, without impacting the brand's full-price strategy.
“Puma will join our premium community of brands and retailers who are already seeing huge success with Secret Sales, by making greater margins while reducing marketing costs and stock movements. Our mission is to revolutionise how brands and consumers view excess stock and Puma plays an important role on that journey.”
With growing inflation and the continued cost-of-living crisis, shoppers are increasingly seeking branded goods at lower prices, with Secret Sales seeing a 55% increase in active customers last year.
Puma plans to double its active listings on Secret Sales to over 1,500 products before the end of September 2022.
