With New York, London and now Milan fashion weeks wrapping up, every fashion professional’s days ahead are filled with appointments for brands and retailers to begin the wholesale buyers process. The typically archaic method of placing orders from lines by highlighting line sheets and using a pen and paper to fill out purchase orders has finally evolved, and one company is responsible for this change.
JOOR is the leading online global fashion marketplace for wholesale buying. Founded in 2010, JOOR has raised $20.1 million in venture capital financing and is looking to serve as an international, online community platform for brands and buyers.
JOOR permits brands and retailers to cut costs, improve customer experience, analyze performance and drive incremental revenue.
At this point, about half of the brands that show at New York Fashion Week are on the platform, along with about 20 per cent of the brands that show in Europe. One of JOOR’s sponsors, Steven Alan, offered iPads at his NYFW presentation this season to allow buyers to place orders after the show.
With 750 brands, JOOR has achieved $50 million each in annual wholesale revenue (although not all of these sales take place through the platform). Not only does JOOR allow vendors to receive orders, it also offers buyers a resource to open up new markets to discover new brands around the world.
“While this isn’t avant-garde in the tech industry, this is very disruptive in the fashion space. What we’re doing is creating an online sales channel for wholesale, which is very necessary and innovative,” says Founder Mona Bijoor.
#LYNL | (Live Your Notable Life)
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