Partech et al. invest £4.5m in Secretsales

Ellie Pullen
24 April 2014

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Partech Ventures, 123Venture, Pentech Ventures and Doughty Hanson have injected ТЃ4.5m into Secretsales.com, a London-based flash sales website for fashion brands.

Partech invested via its €130m Partech International VI fund, which closed last October €10m above target.

The company's founders and key managers also took part in the funding round, which is the third for Secretsales. The company previously received £6.3m in February 2012 from Pentech, Doughty Hanson, Partech and Connect Ventures.

Company
Founded in 2007 and headquartered in London, Secretsales operates a flash sales website for high-fashion brands. Recent sales hosted by the firm include Christian Louboutin shoes, vintage Chanel handbags and Gucci sunglasses.

Secretsales has a portfolio of 650 brands and 3.2 million registered members. The company employs 85 staff and generated turnover of £27.4m in 2013, having achieved net sales growth of 70%.

People
Nish Kukadia is the CEO of Secretsales and a co-founder of the company alongside his brother Sach Kukadia. Philippe Collombel is a managing partner at Partech, while Olivier Goy is a managing partner at 123Venture.