Fast fashion etailer Asos has partnered with premium non-full-price marketplace Secret Sales as part of its plans to right-size its stock portfolio.
Visitors to Secret Sales will be able to shop from an initial selection of up to 1,000 products from Asos-owned brands, including Asos Design, Collusion, Reclaimed Vintage, Topshop, Topman, and Miss Selfridge, all listed at “attractive” prices.
The alliance launches initially in the UK, with all of the selected discounted items no longer being available on Asos as products will be housed on Secret Sales. Asos will be refreshing inventory fortnightly with plans in the pipeline to grow the selection of products available.
Jag Weatherley, corporate transformation director at Asos, said: “We’re pleased to be offering Secret Sales customers access to Asos products for the first time. It’s been a huge effort from everyone involved to get this partnership up and running in a short space of time. We’re looking forward to seeing how we can develop our relationships with Secret Sales.”
As part of its full-year results in October, Asos announced plans to right-size its stock portfolio. Working with Secret Sales provides an additional route for Asos to clear stock efficiently. Purchases of Asos products on Secret Sales will be fulfilled by Asos using its existing fulfilment infrastructure and capability, including packaging and shipping.
Matt Purt, co-founder and chief commercial officer at Secret Sales, added: “Our focus is in helping brands and retailers deliver a long-term sustainable and profitable solution to clear non-full-price inventory, without having to compromise on margin or erode brand equity. We’re incredibly excited to be welcoming Asos to our Secret Sales seller community and supporting their long-term strategy for managing off-price inventory.”
Asos has recently reported a drop in sales. It announced a 8% year on year dip in the four months into 31 December 2022, citing “weak consumer sentiment”. The online fashion retailer has a £300m cost mitigation package in place which will see the closure of three warehouses, including one in the UK. Asos had previously announced that it will reduce staff costs by 10% in a series of redundancies.
