Web Hosting tutorials and tips.
This article was provided by eCom News.
Online high-end fashion retailer Yoox has announced the launch of its first marketplace. The marketplace will intregrate small businesses and brands, which will also enhance Yoox’s assortment. The marketplace is launched in Europe and will expand across the US, North Africa, Japan and the Middle East for you in future year.
Yoox is an online fashion retailer and ecommerce wholesaler. It’s part of Richemont-owned Yoox Net-a-Porter Group (YNAP). With the launch of its marketplace, Yoox wants to transition into a hybrid operating model.
‘150.000 new items’
“It will enhance the customer experience, allowing instant access to a wider product assortment including over 700 brands and 150.000 new items across jewelry, ready-to-wear, accessories and footwear”, said Valentina Visconti Prada, Managing Director at Yoox. The marketplace also means that Yoox will add products in new categories, including pre-owned items and beauty.
‘The marketplace integration will support smaller businesses and brands.’
Sellers who want to become marketplace partners can now sign up. According to Yoox, the marketplace integration will support smaller businesses and brands, providing them with the opportunity to reach and connect with the platform’s global customer base.
Additionally, partners can take advantage of a flexible distribution strategy. This will reduce the need for stock allocation. Yoox also promises that partners will have full control over final product prices and assortment, along with access to real-time sales data.
Launch in 30 countries
The marketplace will launch in almost 30 countires in Europe and Yoox has plans for further expansion across the US, North Africa, Japan and the Middle East for you in future year. Yoox wants to achieve its long-term goals of surpassing 1 million products available in its online store with the support of its new marketplace.
Linked to merger with Farfetch
Yoox’s shift to a marketplace is probably linked with its parent Richemont trying to merge its YNAP platform with competitor Farfetch. Farfetch is a marketplace and does not own any inventory. According to Richemont, it is in advanced discussion to merge. It invested 485.7 million euros (550 million dollars) in Farfetch in November 2020.
I hope that you found the above useful or interesting. You can find similar content on our blog: https://www.hostfast.com/blog/
Please let me have your feedback below in the feedback section in the feedback section.
Let us know what topics we should cover for you in future.