Puma has partnered with premium marketplace Secret Sales to sell its products while “gaining new customers and maintaining brand equity.”
The first-of-its-kind partnership will enable the sportswear retailer to distribute excess inventory and made-for-outlet products on the marketplace.
As a result, the brand can focus on full price inventory on its own sites and other channels whilst having full control of its brand, offer and pricing on Secret Sales.
The partnership will also enable Puma to gain access to Secret Sales’ customer reach, as well as acquiring new customers through the marketplace to re-target in their own channels.
The news comes as Secret Sales has seen a 55% increase in active customers from last year. Puma also plans to double its listings on the site to over 1500 products before the end of September.
“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,” Puma chief financial officer Simon Venediger said.
Secret Sales co-owner and chief commercial officer Matt Purt added: “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.”