Faire heads downunder with Australia entry
Online wholesale marketplace Faire announced on Wednesday its entry into Australia, as the U.S. firm expands its global reach beyond North America and Europe.
The San Francisco-based company said its Australia debut looks to onboard independent brands and retailers in Australia, "one of the most values-driven entrepreneurial communities in the world, who historically have faced high costs and complications when expanding to new markets," according to a press release.
The company currently serves 1,000 brands in Australia offering roughly 100,000 products across a range of categories. Within its first week of launch, Faire reported higher retailer volume in the region compared to any other market launch to date, "demonstrating strong appetite from Australian retailers for the company's solutions," Faire added.
"Faire offers small businesses the best inventory, financing, and fulfillment. Whether their goal is to expand globally or continue focusing on their local strategy, we’re committed to empowering Australian entrepreneurs to build their business the way they want," said Faire co-founder and CEO, Max Rhodes.
Faire said it plans to grow a dedicated team in Sydney, Australia with nearly 10 current open roles and plans to hire up to 20 employees based in the region by the end of this year.
Since its inception five years ago, Faire claims to be the largest online wholesale community in the world, connecting 450,000 retailers with 70,000 brands from over 100 countries.
The company enables retailers to discover unique products from around the world, including high-quality items not sold on Amazon and eco-friendly products; 60-day payment terms to purchasing retailers, providing more payment flexibility and security; and free returns on opening brand orders, eliminating the burden of inventory risk by allowing retailers to experiment and buy with confidence in an unpredictable environment. Finally, Faire’s algorithm offers data-driven recommendations and insights on what will likely sell well for a specific retailer.
For a limited time, Faire is offering free shipping on Australian retailers’ first order with Australian brands.
Faire’s Australia launch follows the company’s one-year anniversary of its expansion in the United Kingdom and Europe. In the past year, the company has launched retail operations in 17 new countries, including Canada, taking its presence to 20 countries around the globe.
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