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NuOrder, a digital wholesale platform, has eliminated the bane of every buyers’ existence — manual order writing — by speeding up the buying process.
The two-way sales solution and marketplace allows users to conduct their wholesale business online. Eliminating the need for pen and paper, the cloud-based platform allows brands to sell more in less time, while helping retailers purchase more effectively. The platform, founded by Heath Wells and Olivia Skuza, has captured the interest of a high-profile group of investors. NuOrder last month secured over $3 million in growth capital from GRP Partners, CAA and Rachel Zoe Inc., with additional investment from Greycroft, Aileen Lee, David Tisch, Bonobus’ Brian Spaly and Marvin Traub Associates ceo Mortimer Singer.
Brands selling on NuOrder include Citizens of Humanity, Levi’s, Ted Baker, Elizabeth and James and Earnest Sewn, while retailers include Bloomingdale’s, Fred Segal, Opening Ceremony, Nordstrom and Urban Outfitters. Orders are easily submitted and can be edited through the system, with re-orders completed in seconds. Buyers can browse NuOrder’s marketplace for new brands without traveling to trade shows. Brands can create custom line sheets and place and update inventory in real time. The technology, for Apple desktops and iPads, integrates with users’ back-of-house systems. According to Wells, over 750,000 units have been sold through NuOrder in the last 12 months.
“We saw firsthand just how broken the wholesale process is,” said Wells, who previously ran a digital advertising agency with his wife, Skuza. “The cycle of buying is completely antiquated. Our solution benefits both the brand and the retailer. Retailers can’t hold as much stock. They need smaller but more frequent deliveries.”
“Our biggest competition is the pen and paper,” Skuza said. “About 98 percent of brands are still stuck in the Dark Ages.”
Mark Suster, a partner in GRP, said there’s always been an emphasis on e-commerce for consumers, but just as important is using technology to transform the supply chain.
Brands pay for NuOrder on a subscription basis; there’s no fee for buyers.
“NuOrder has definitely saved us some time,” said James Hammond, senior buyer at American Rag. “It’s nice not having to sort through attachments or having to dig through look books to reference styles. Ordering has also become easier and more efficient. It allows us to reference our previous orders.”
“Helmut Lang looked at all the companies offering similar products to NuOrder and after evaluating the market, we felt as though their solution offered the most efficient, innovative and user-friendly service available,” said Austin Rosen, who works with his father, Andrew Rosen, chief executive officer of Theory and Lang. “NuOrder was the only company that was able to offer specialized integration and customization to meet our business needs. This solution has enabled us to better support our customers.”