Nish Kukadia founded SecretSales.com in 2007 with his brother Sach and two business partners Michael Cody and Silvia Cody.
Initially, they developed their website with an agency which told them they were crazy. No one, they were told, would buy anything from a site that required membership.
But, to appease Kukadia, the agency built the site to cater for 30,000 members — the target for the first four months of the business. The agency thought it would take, at best, three years to achieve that volume of members.
Within four weeks, SecretSales had 30,000 members.
The business has a business model that some might describe as unique. It offers high-end, brand-name goods at significant discounts. So far, that’s nothing new. However, Secret Sales sells current season stock, at a discount, at the same time that the goods are for sale in high street stores at full price.
How does that work? Well, like I said, it’s an interesting model and one that has proven to be very successful.
In this exclusive interview with Anthill, Nish explains how the business was built from nothing, how they found investors and to how the site grew into one of the largest eCommerce sites in the U.K. All this, plus some interesting predictions for the future of retailing.
If you want to hear more from Nish, he is speaking at the Ecommerce Expo in Melbourne, 17-18 of April. Tickets are on sale now.
Nisk Kukadia – CEO & Founder of SecretSales.com