In this post-pandemic period, independent retailers are having a moment. A big moment as consumers seek “hidden gems” and crave a more engaging retail experience, according to Kristin Savilia, Chief Executive Officer of JOOR.
Here, Savilia discusses the transformative impact of the platform’s advanced digital solutions in the fashion wholesale landscape. She delves into how JOOR is catering to over 14,000 brands and 650,000 fashion buyers worldwide. Savilia also introduces JOOR Discover, a pioneering tool designed to facilitate stronger, lasting partnerships between fashion brands and retailers,
thus significantly driving the market’s evolution.
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Fairchild Studio: Can you briefly explain how the JOOR platform works, and how many fashion brands and retail buyers are on it?
Kristin Savilia: JOOR is the fashion industry’s leading wholesale management ecosystem, enabling brands to digitally present collections and partner with retailers to build assortments, place and manage orders, and process payments via JOOR Pay. We have more than 14,000 discerning brands and 650,000 curated fashion buyers across 150 countries connecting on our platform, discovering new business partners and driving their wholesale growth.
Our client base includes leading luxury conglomerates LVMH, Richemont, and Capri, as well as brands such as Valentino, Loewe, and Stella McCartney. We process nearly $20 billion in transactions annually, making us the preeminent end-to-end wholesale solution in fashion.
Fairchild Studio: As the retail landscape shifts once again, there seems to be an emergence of independent retailers springing up. What’s driving this growth?
K.S.: Consumers, especially post-pandemic, are increasingly seeking unique and personalized shopping experiences. They want to discover hidden gems, support local businesses, and connect with brands that resonate with their values. This has resulted in a rise in market share for independent retailers, who specialize in crafting a carefully curated assortment for their clientele. From a business perspective, these independents offer an elevated in-store presentation and more flexibility in negotiating contract terms which makes them much more appealing partners.
Over the past five years, the percentage of total wholesale transaction volume on JOOR attributed to independent retailers has increased significantly from 47 percent to 59 percent, and that’s a trend that is reflected globally across the industry.
Fairchild Studio: What is JOOR Discover and what was the impetus behind launching this platform feature?
K.S.: JOOR Discover is our new prospecting tool that makes finding the right retail partner easy. We received lots of feedback from brands that it was extremely challenging to identify and connect with retailers to expand their distribution, and retail buyers were equally frustrated receiving massive amounts of outreach that didn’t match what they were looking for. A key missing element was data — it is not easy for brands to find details about independent retailers as the info is not readily available.
We knew that JOOR’s exclusive access to retailer data, vast industry relationships and high-quality global network uniquely positioned us to solve this problem, so we set about developing the technology to enable brands and retailers to discover each other and make meaningful connections — allowing them to nurture lasting business partnerships that drive repeat business.
Fairchild Studio: How does JOOR Discover work, and what is the value proposition for brands? And for retail buyers?
K.S.: JOOR Discover allows brands to search and filter our exclusive retailer directory and identify the right partners for their brand, consolidating their prospecting process from on average 7 tools down to one — then send highly effective outreach within the platform to unlock new business growth and retail expansion.
For retailers, JOOR Discover not only makes it easy to quickly evaluate brand outreach, but also provides access to a curated network of brands, simplifying the process of discovering new resources, filling assortment gaps, and sourcing unique products to drive increased sales. The results speak for themselves. Outreach on JOOR has a 9-times higher success rate in acquiring new clients compared to traditional prospecting methods.
Fairchild Studio: How do you see the B2B fashion market evolving? What’s next?
K.S.: The B2B fashion market is moving beyond simple transactions to prioritize long-term partnerships. While most B2B marketplaces offer introductions, they typically result in “one and done” transactions rather than facilitating the ongoing collaboration needed for sustained growth. This is what JOOR Discover is changing. By leveraging our exclusive data and network, JOOR Discover fosters stronger introductions that build trust and translate into lasting business relationships. 78% of new clients acquired on JOOR order again, placing on average more than 5 orders in their first year. This impressive rate of repeat business is four times higher than the industry standard, demonstrating the unique impact of our solution.
To truly bring value, B2B marketplaces need to not only make new introductions, but need to build long-term partnerships that fuel business growth for both brands and retailers.
Click HERE to learn more about JOOR Discover.