Yoox launches marketplace model in Europe, plans to roll out globally
Italy-based global off-price retailer Yoox has announced the launch of the Yoox Marketplace in Europe, giving its customers “instant access to a wider product assortment including over 700 brands and 150,000 new items across jewellery, ready-to-wear, accessories and footwear”.
The retailer, which is part of Richemont’s giant Yoox Net-A-Porter pureplay e-tail operation, already offers a massive selection of brands and products on its webstore. But it previously operated mainly via a wholesale model rather than the increasingly popular marketplace approach.
It said the latest launch its part of its “broader transition to a hybrid operating model, designed to enhance the customer experience, expanding its brands and products offering on site”. It’s intended to “further strengthen relationships with its prestigious brand partners across the group, ensuring greater flexibility in their logistical operations and product assortment, and allowing them to reach customers on the platform faster”.
The new marketplace operates in addition to the existing highly-curated brand portfolio and it said some of the 700+ brands available through it will be on the store for the very first time. It will also allow further enhancements to the current product range with new categories.
“This increased assortment will also encompass some of the most renowned retailers in the fashion and streetwear industry, including Mengotti and Papini,” it said. “Customers will also benefit from more frequent store updates and an increasingly varied assortment designed to enrich the shopping experience”.
The service has launched in almost 30 countries across Europe, with plans for further expansion across the US, Middle East and North Africa and Japan.
A selection of sustainable brands will be available on the site’s marketplace. These will follow the ‘Good On You’ brand rating system, which informs customers about responsible fashion brands and the items they choose.
It added that the marketplace integration will also support small businesses and emerging brands, including Apple&Figs, CHPO and Siguelsol, among others, “providing them with the opportunity to reach and connect with Yoox’s global customer base”.
The company has a long-term goal of surpassing one-million products available on its online store and said the latest move will help it in this aim.
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