NuORDER is a B2B platform that enables brands and retailers to buy and sell fashion goods. Fashion brands stocked on the platform include Saks Fifth Avenue, Nordstrom, Coach, and Canada Goose. While retail has adopted digital initiatives on its customer-facing side, its inventory management and operation side has lagged.
NuORDER launched a new payment feature during the pandemic, allowing brands and retailers to process payments on their platform and release goods immediately. The platform benefited from buyers being unable to travel to see collections or attend fashion shows. While some of this travel will recommence, much of it may remain in a virtual format as buyers develop new habits.
Other digital fashion wholesale platforms exist, including Joor and Faire, both of which have attracted millions of dollars in investment, proving that there is room for multiple players in this space. NuORDER was recently acquired by commerce and customer experience platform Lightspeed. Through this merger, NuORDER will now offer merchants increased data insights into industry trends. With board members that include one of Net-a-Porter's founders, the company plans to further consolidate its position in the industry and grow internationally.
Freddie
Company Specialist at Welcome to the Jungle