Secret Sales Revives V&D with Acquisition

Deal News | Jul 10, 2025 | Perwyn

Secret Sales, a portfolio company of private equity firm Perwyn, has acquired two Dutch retailers, V&D and To Be Dressed, signaling its strategic push into the Benelux region. V&D, once a beloved Dutch high street name that shuttered its stores in 2016, will experience a digital rebirth. Chris Griffin, CEO of Secret Sales, emphasizes the importance of preserving V&D's heritage while modernizing it for today's market. The expansion into the Netherlands is supported by Secret Sales' technological capabilities and substantial inventory, setting out to make V&D a staple for Dutch fashion-conscious consumers once again. Meanwhile, To Be Dressed will continue to offer its unique curated fashion selections. This acquisition is part of Secret Sales' broader strategy to expand into seven European markets, building on previous successful integrations of Dreivip, Dress for Less, and Afound.

Sectors

  • Retail
  • E-Commerce
  • Private Equity

Geography

  • Netherlands – The acquisitions of V&D and To Be Dressed focus on the Dutch market, particularly as V&D is a recognized Dutch retail brand.
  • Benelux – The expansion into the Benelux region is part of Secret Sales' broader European market approach.
  • Europe – Secret Sales is expanding across Europe, including existing operations in seven European markets.

Industry

  • Retail – The article discusses the acquisition of retail companies V&D and To Be Dressed by Secret Sales, emphasizing the transformation and expansion in the retail space.
  • E-Commerce – Secret Sales' digital-first approach and the revival of V&D as an online brand highlight the e-commerce sector's relevance.
  • Private Equity – Perwyn, the private equity firm backing Secret Sales, is playing a critical role in facilitating these acquisitions and the European expansion strategy.

Financials

  • 2 billion – The amount of premium inventory access leveraged by Secret Sales for the relaunch of V&D.

Participants

NameRoleTypeDescription
Secret SalesAcquirerCompanyAn international off-price fashion marketplace owned by Perwyn focused on digital retail expansion.
V&D (Vroom & Dreesmann)Target CompanyCompanyA historic Dutch retail brand being revived as a digital marketplace by Secret Sales.
To Be DressedTarget CompanyCompanyA platform specializing in curated, discounted fashion located in the Netherlands.
PerwynInvestorCompanyA private equity firm backing Secret Sales, facilitating its strategic acquisitions and expansion.
Chris GriffinCEOPersonCEO of Secret Sales, leading the company's expansion and digital strategy.
Angus Duthie-JacksonInvestment ManagerPersonInvestment Manager at Perwyn, involved in strategic acquisitions to extend Secret Sales' reach.