Small businesses and brands will be integrated into the marketplace, which will also expand Yoox's assortment. The marketplace launched in Europe and will expand next year to the U.S., North Africa, Japan and the Middle East.
Yoox is an online fashion store and e-commerce wholesaler. It is part of Richemont-owned Yoox Net-a-Porter Group (YNAP). With the launch of its marketplace, Yoox wants to move to a hybrid operating model.
150,000 new items.
"This will improve the customer experience by providing instant access to a broader product range of more than 700 brands and 150,000 new items in jewelry, ready-to-wear, accessories and shoes," said Valentina Visconti Prada, managing director of Yoox. The marketplace also means that Yoox will be adding items to new categories, including used goods and beauty.
The integration of the marketplace will support small businesses and brands.
Sellers who want to partner with the marketplace can already sign up. According to Yoox, the marketplace integration will support small businesses and brands by giving them the opportunity to connect with the platform's global customer base.
In addition, partners will be able to take advantage of a flexible distribution strategy. This will reduce the need for inventory distribution. Yoox also promises that partners will have full control over final pricing and product assortment, as well as access to real-time sales data.
Launching in 30 countries.
The marketplace will launch in nearly 30 countries in Europe, and Yoox plans further expansion in the U.S., North Africa, Japan and the Middle East next year. Yoox wants to reach its long-term goal of more than 1 million products available in its online store, supported by the new marketplace.
Related to the merger with Farfetch.
Yoox's move to the marketplace likely stems from its parent company Richemont trying to merge its YNAP platform with rival Farfetch. Farfetch is a marketplace and does not own inventory. According to Richemont, they are in merger talks. It invested 485.7 million euros ($550 million) in Farfetch in November 2020.
|Our original article is available at this link.
Yoox is an online fashion store and e-commerce wholesaler. It is part of Richemont-owned Yoox Net-a-Porter Group (YNAP). With the launch of its marketplace, Yoox wants to move to a hybrid operating model.
150,000 new items.
"This will improve the customer experience by providing instant access to a broader product range of more than 700 brands and 150,000 new items in jewelry, ready-to-wear, accessories and shoes," said Valentina Visconti Prada, managing director of Yoox. The marketplace also means that Yoox will be adding items to new categories, including used goods and beauty.
The integration of the marketplace will support small businesses and brands.
Sellers who want to partner with the marketplace can already sign up. According to Yoox, the marketplace integration will support small businesses and brands by giving them the opportunity to connect with the platform's global customer base.
In addition, partners will be able to take advantage of a flexible distribution strategy. This will reduce the need for inventory distribution. Yoox also promises that partners will have full control over final pricing and product assortment, as well as access to real-time sales data.
Launching in 30 countries.
The marketplace will launch in nearly 30 countries in Europe, and Yoox plans further expansion in the U.S., North Africa, Japan and the Middle East next year. Yoox wants to reach its long-term goal of more than 1 million products available in its online store, supported by the new marketplace.
Related to the merger with Farfetch.
Yoox's move to the marketplace likely stems from its parent company Richemont trying to merge its YNAP platform with rival Farfetch. Farfetch is a marketplace and does not own inventory. According to Richemont, they are in merger talks. It invested 485.7 million euros ($550 million) in Farfetch in November 2020.
|Our original article is available at this link.