Faire, an online wholesale marketplace that connects independent retailers and manufacturers, will host its first Faire Fashion Week, an apparel and footwear preorder event, virtually from Aug. 30 through Sept. 3.
Brands will be able to show their designs for upcoming seasons to Faire’s global community of 200,000 independent retailers.
In February, Faire launched a preorder marketplace for apparel, footwear and accessories brands. Since then, Faire has seen 10 times the increase in preorder demand, helping brands triple their preorder sales.
Faire’s apparel category now represents 2,500 emerging and established apparel and footwear brands from more than 80 countries. Among those showing are Just Black Denim, PX Clothing and Amy Byer.
Among the features of Faire Fashion Week, Faire will fund 20 percent off any time a retailer preorders $1,000 or more from a brand at the event, making it easier for retailers to try new styles without risk. Faire will also offer increased term limits ensuring no payment is required upfront, helping retailers secure styles while managing their inventory cash flow. Retailers can test new styles in store and return what doesn’t sell, at no cost. Attendance is free for retailers.
Faire has expanded into the European market and has seen fast growth there. Last month, Faire said it raised $260 million in its latest funding round led by Sequoia Capital. With this funding, Faire is now valued at $7 billion, nearly tripling its previous valuation of $2.5 billion disclosed over six months ago.
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