Best Secret GmbH

The beginning of Schustermann & Borenstein date back to 1924. {{Better source needed|reason=Citation is from the company press-release; there must be more objective sources for this.|date=March 2018}} The traditional family-run business is run by the third generation. BESTSECRET was founded as a subsidiary of Schustermann & Borenstein in 2007 to create an online presence.{{Cite news|url=http://www.textilwirtschaft.de/business/unternehmen/Shopping-Club-BestSecret-erweitert-Angebot-64893|title=Unternehmen: Shopping-Club BestSecret erweitert Angebot|last=Platen|first=R.|date=2010|work=www.textilwirtschaft.de|access-date=2018-03-23|language=en}}{{Cite news|url=http://etailment.de/news/morning_briefing/homejoy-google-amazon-3423|title=Morning Briefing: Homejoy wird beerdigt und Google mischt mit, Amazon, Rewe, Rocket Internet, Fressnapf, Etsy, Chrono24, BestSecret, Tolino, Amazon fresh, Rewe, Beme|last=Kolbrück|first=O.|date=2015|work=etailment.de|access-date=2018-03-23|language=de}}

BESTSECRET's works as a closed shopping community. This means that the offers are only available to registered members and these members have access to a selection of permanently reduced designer merchandise.{{Cite news|url=http://www.vogue.de/mode/mode-news/online-outlets-best-secret|title=BestSecret|work=Vogue Germany|access-date=2018-03-23|language=de}} In order to maintain this pricing policy and yet protect the exclusivity of the brands, access to the online store is limited to 250,000 members.{{Cite web|url=http://ecommerce.typepad.com/exciting_ecommerce/2008/06/bestsecret-der.html|title=Exciting Commerce: BestSecret: Der Geheimnisvollste unter den Shoppingclubs|last=Krisch|first=J.|date=2008|website=ecommerce.typepad.com|access-date=2018-03-23}}{{Cite news|url=https://www.deutsche-startups.de/2012/08/07/bestsecret-com-axa/|title=BestSecret.com holt Axa ins Boot - Finanzinvestor zahlt 200 Millionen Euro für den Einstieg - deutsche-startups.de|last=Hüsing|first=A|date=2012-08-07|work=deutsche-startups.de|access-date=2018-03-23|language=de-DE}}{{Cite news|url=https://www.adzine.de/2014/03/shopping-clubs-geschlossene-gesellschaft-performance-marketing/|title=Shopping-Clubs: Geschlossene Gesellschaft?|last=Goetz|first=S|date=2014|work=Marketing ADZINE - Magazin für Online|access-date=2018-03-23|language=de}} A prospective user must be recommended by an existing member to gain access. However, the COO, Marian Schikora, will review any new recommendation to ensure that the total number of members is kept low (for example, only a limited number of people per region can become members).{{Failed verification|date=March 2018|reason="Jede Empfehlung wird vom Unternehmen überprüft" does not say the CEO reviews applications herself.}}

The company is active in Germany, Austria, Switzerland, France, Sweden, Latvia, Netherlands, Slovenia, Italy, Ireland, Belgium, Bulgaria and Romania.{{Cite news|url=https://excitingcommerce.de/2016/04/25/exchanges-136-vente-privee-und-bestsecret-im-shoppingfieber/|title=Exchanges #136: Vente-Privée und Bestsecret im Shoppingfieber|last=Weiß|first=M|date=2016-04-25|work=Exciting Commerce|access-date=2018-03-23|language=de-DE}} In addition, Best Secret GmbH acquired the Swiss online fashion retailer FashionFriends on April 1, 2016.{{Cite news|url=https://www.tamedia.ch/de/gruppe/newsroom/medienmitteilungen/schustermann-borenstein-uebernimmt-fashionfriends-von-tamedia|title=Schustermann & Borenstein übernimmt FashionFriends|last=Tamedia|date=2016|access-date=2018-03-23|language=de}}{{Cite news|url=https://excitingcommerce.de/2016/04/01/bestsecret-ubernimmt-fashionfriends-in-der-schweiz/|title=Bestsecret übernimmt Fashionfriends in der Schweiz|last=Krisch|first=J|date=2016-04-01|work=Exciting Commerce|access-date=2018-03-23|language=de-DE}}

In 2012, Schustermann & Borenstein sold two-thirds of its shares to Axa Private Equity Group (now Ardian), which included shares in BESTSECRET.{{Cite news|url=https://www.gruenderszene.de/news/bestsecret-200-mio-axa|title=200 Millionen Euro für BestSecret und Co|last=Räth|first=M|date=2012-08-07|work=Gründerszene Magazin|access-date=2018-03-23|language=de}} The remaining shares remained family-owned by Daniel Schustermann, Emil Schustermann, Benno Borenstein and Daniel Borenstein, who continue to run the operating business.

In 2016, Ardian sold the Schustermann & Borenstein and BestSecret company shares to Permira. The enterprise value lay approximately between 700 and 750 million euro.{{Cite news|url=http://www.finance-magazin.de/deals/private-equity-private-debt/permira-kauft-schustermann-borenstein-von-ardian-1390571/|title=Permira kauft Schustermann & Borenstein von Ardian|last=Habdank|first=P|date=2016|access-date=2018-03-23|language=de}}{{Cite news|url=https://excitingcommerce.de/2016/10/25/bestsecret-schustermann-borenstein-geht-an-permira/|title=Bestsecret: Schustermann & Borenstein geht an Permira|last=Krisch|first=J|date=2016-10-25|work=Exciting Commerce|access-date=2018-03-23|language=de-DE}}{{Cite news|url=https://fashionunited.de/nachrichten/business/permira-kauft-schustermann-borenstein1/2016102621128|title=Permira kauft Schustermann & Borenstein|last=Blaazer|first=Esmee|date=2016|access-date=2018-03-23|language=de-de}}

In 2020, Moritz Hahn (former SVP at Zalando) joined BESTSECRET as a Co-CEO of the company.

BESTSECRET warehouse moved to a new central warehouse in Poing near Munich in 2015. The size of the facility is 28,800 square metres and has a capacity of up to 4 million items of clothing.{{Cite news|url=https://www.merkur.de/lokales/ebersberg/best-secret-schustermann-borenstein-grub-einblicke-neue-lager-5880222.html|title=Geheimnis enthüllt: Einblicke in das neue "Best Secret"-Lager|last=Rösl|first=A|date=2015-11-19|work=merkur.de|access-date=2018-03-23|language=de}}

BESTSECRET development centres are located in Granada and Munich.

File:Poing.jpg

In 2016, there was one incident in which nine employees were injured and another 51 had to seek medical treatment.{{Cite news|url=https://www.tz.de/muenchen/region/grub-lkw-container-schustermann-borenstein-tz-6211731.html|title=Großalarm bei Schustermann & Borenstein|date=2016-03-15|work=tz.de|access-date=2018-03-23|language=de}} The cause was traced back to two containers from China, which were provided with means that were intended to prevent the import of Asian longhorn beetle.{{Cite news|url=https://www.merkur.de/lokales/ebersberg/poing-ort29300/grub-lkw-container-schustermann-borenstein-6208655.html|title=Wegen Frachtcontainer aus China: Großalarm bei "Best Secret"|last=Rösl|first=A|date=2016-03-15|work=merkur.de|access-date=2018-03-23|language=de}} Employees complained of airborne contaminants that caused irritation to the eyes and respiratory tract. The product in question was returned. The warehouse was put back into service the following day. Daniel Schustermann promised to introduce stricter security measures in the future to protect employees.

2nd Place for Shopping Club in Online Retail – Test Bild Beste Service-Qualität 2017/18 {{Cite web|url=http://i.computer-bild.de/downloads/8409061/Servicesieger_TESTBILD.pdf?8bd10|title=Wer hat den besten Service Deutschlands?|date=2017|website=Computer Bild}}

{{reflist|2}}

• {{Official website|https://www.bestsecret.com}}

Category:2007 establishments in Germany

Category:Online retailers of Germany

Category:Mail-order retailers

Category:Companies based in Upper Bavaria

Category:Permira companies