Secret Sales, the UK-based, leading premium off-price fashion marketplace, has acquired Spanish online fashion retailer Dreivip, as the brand expands further into Europe.

The move marks the beginning of the discounter’s merger and acquisition strategy after its recent expansion into the Netherlands and Belgium. By acquiring Dreivip, which has 2.7 million Spanish users, brands and retailers will have quick access to a large number of new clothing customers.

Up until the launch of a new co-branded website in October, Dreivip will conduct business as usual. Around 450 products will be present on the website when it first launches, and 70 more Spanish brands and shops are presently in advanced stages of discussion.

After last year’s rise of 70 per cent, the acquisition allows the fashion company to forecast a 150 per cent increase in revenues year over year for all of Europe for 2023. Following the launch, Secret Sales anticipates a 100 per cent year-over-year increase in its inventory.

Secret Sales received US $ 10 million in funding back in May in an effort to hasten its progress towards becoming the biggest non-full-price apparel marketplace in Europe.