Finance & Economics

Italy-based retailer to launch its own marketplace

The marketplace also means that the company will add products in new categories

marketplace

Italy-based retailer to launch its own marketplace. Source: flickr.com

According to Ecommerce News, online high-end fashion retailer Yoox is going to launch 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 plans to expand across the US, North Africa, Japan and the Middle East next 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.

Yoox is an online fashion retailer and e-commerce 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.

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
Valentina Visconti Prada, Managing Director at Yoox 

Sellers who want to become marketplace partners can now sign up.

Yoox says that 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.

We’ve reported that Shopify teamed up with JD.com.

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