The $40 billion company behind US discounter TJ Maxx has snapped up the Trade Secret chain from Gazal Corp and is hoping to take advantage of hundreds of brands seeking new distribution channels after being dumped by Myer and David Jones.

TJX Companies Inc, the largest off-price apparel and homewares retailer in the US, has agreed to pay Gazal $80 million for Trade Secret, which has 35 stores selling national and international apparel, footwear, accessories and homewares brands at discounts as high as 60 per cent off retail prices.