BestSecret will become the ‘‘quiet destination for luxury’’ in off-price fashion
As part of the new elevation strategy, industry expert Elisa Radaelli joins the Group as VP Men’s Fashion Apparel
As a leading online platform for off-price fashion in Europe, BestSecret embodies a distribution style that values the art of sophistication and subtlety without exposing brand logos across the public online space. The company ensures maximum discretion and brand equity protection for its brand partners by selling their overstock within its invitation-only member club. BestSecret thereby enables brands to clear their excess merchandise effectively and at scale, but with a quiet and discreet philosophy. Now, the group is refining its approach to brands and customers by introducing its new elevation strategy. With this step, BestSecret will become, in a figurative sense, the “quiet destination for luxury" in off-price fashion.
A pivotal element of BestSecret’s elevation strategy is the focus on growing the share of top-tier premium and luxury brands in its brand portfolio. Moritz Hahn, CEO of BestSecret, comments: “BestSecret customers hold significant appeal for high-end brands. The most relevant members who generate more than half of our gross merchandise value spend more money on BestSecret on average compared to the customers of leading full-price luxury players. This attractive customer base and our closed and discreet club are part of our inherent appeal. Our elevation strategy adds new dimensions to this and it demonstrates our commitment to continuously adapting our platform and services to the evolving needs of our brand partners, especially in the high-end fashion segment. BestSecret already holds a premium position as a €1bn+ revenue e-commerce player with a strong track record of profitable growth and we will continue to push the boundaries of excellence and redefine the essence of the off-price fashion industry."
The company's approach to nurturing brand relationships is another key aspect of BestSecret's high-end focus. To strengthen the company’s focus on both the brand quality and the international development of its portfolio, the Group appointed luxury fashion expert Elisa Radaelli as Vice President Men’s Fashion Apparel. "We are very excited to welcome Elisa to our team," says Jason Visse-Demortier, Chief Supply Officer at BestSecret. "Her extensive knowledge and proficiency in the international luxury fashion industry enriches our supply and drives our elevation." With her wide-ranging experience in international buying, Elisa manages the supply unit for menswear and ensures strategic and inspiring guidance for the whole team. Elisa is very experienced in managing premium and luxury brands and has a strong international network. She previously worked successfully for leading off-price platforms such as The Outnet or Yoox, most recently as Buying Director Designer Brands. Elisa holds a bachelor’s degree in Fashion Management and an MBA from SDA Bocconi. She works from Milan and joined BestSecret in May 2023.
BestSecret’s drive for elevation equally focuses on offering existing and new brand partners a high-class platform with attractive brand adjacencies and a highly flexible and tailored partnership in which they have significant control over their brand. This includes the recent launch of the BestSecret Curated Platform as an addition to the heritage wholesale business. Carefully curated brand partners can expand their direct-to-consumer business to the off-price segment and gain direct access to the high-quality member base.
"In our alliance with brands, we thrive on being so much more than a distributor. We become a strategic partner that always thinks one step ahead and provides decisive value to fashion brands in identifying opportunities that arise from overstock," concludes Jason Visse-Demortier. "We open our BestSecret world to our brand partners, where sophistication and subtlety are at home. Our truly closed and discreet membership club naturally creates the necessary distance between online full-price and off-price. Ultimately, we help our partners to drive their business and their brand equity by keeping both their own .com and their full-price network “clean”. “
About BestSecret Group
BestSecret is a leading European online destination for off-price fashion. With a focus on premium and luxury apparel and a permanent assortment of around 3,000 international brands, the Group offers its customers in 27 countries across Europe highly desirable fashion at attractive discounts in a premium shopping environment. At the same time, BestSecret enables its brand partners to clear overstock at scale with minimum visibility and maximum brand equity protection and offers them a flexible combination of a wholesale model and Curated Platform. The unique business model is based on its closed character with an invitation-only customer membership, the longstanding brand partner and customer relationships, a tech-focused mindset, and an inherently sustainable value proposition. BestSecret has a strong track record of profitable growth over many years. It generated revenues of EUR 1,051 million in 2022 and employs around 1,900 people from over 90 nations. The Group draws on a heritage of nearly 100 years in the textile and fashion industry and today is owned by Permira Funds and the founding families Schustermann and Borenstein.