Faire, the online wholesale marketplace valued at $12.4 billion USD ($16.7 billion AUD), is now available to independent brands and retailers in Australia. This marks Faire’s first market launch outside of North America and Europe, and follows the platform’s expansion into Canada and 16 of the largest markets across the United Kingdom and Europe.
What does Faire do for independent retailers?
With a growing network of over half a million customers around the world, independent retailers are joining Faire to discover unique products, while emerging and established brands are leveraging Faire for the opportunity to grow their business on a global scale.
“We’re excited to offer our support to Australian brands, one of the most values-driven entrepreneurial communities in the world, who historically have faced high costs and complications when expanding to new markets,” said Faire co-founder and CEO, Max Rhodes.
“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.”
Over the past five years, Faire has become the largest online wholesale community in the world, connecting 450,000 retailers with 70,000 brands from over 100 countries.
Why did Faire opt for Australia?
Expanding the Faire network to retailers in Australia, a region where retail represents the second largest employment sector, unlocks a meaningful channel for entrepreneurs to reach influential customers in new markets that were previously cost-prohibitive.
Faire serves 1,000 brands in Australia offering roughly 100,000 products. Within its first week of launch, Faire reported higher retailer volume compared to any other market launch to date, showing strong appetite from Australian retailers for the solutions provided by Faire.
“Faire provides an amazing and accessible platform and will give small businesses in Australia a chance to grow. Today we have a retail space and showroom in Sydney, and our products are stocked in Australia, the U.S., and Europe,” said Verity Kizek, co-founder of Sydney-based artisan home goods brand, Saardé, stocked in over 400 Faire retailers.
What makes Faire the perfect business partner?
Faire’s toolkit of data insights, payment terms, and logistical solutions, provides SMBs with the tech they need to compete on a more level playing field. Independent retailers across Australia that join Faire, available on desktop, Android and iOS mobile apps, will benefit from:
- Access to a global network: With 70,000 global brands, Faire aids retailers to find unique products, including high-quality items not sold on Amazon and eco-friendly products.
- Competitive credit terms: Faire offers 60-day payment terms to purchasing retailers, providing payment flexibility and security, a benefit previously available to retail chains.
- Free returns:Faire is the first wholesale marketplace to offer 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.
- Shipping solutions:For a limited time, Faire is offering free shipping on Australian retailers’ first order with Australian brands. In addition, Australian brands can offer their retailers $100 to spend on their line when they join Faire, plus free shipping for a year.
- Data-backed insights:Through machine learning, Faire’s algorithm offers smart, data-driven recommendations and insights on what will likely sell well for a specific retailer.
What does the future hold for Faire?
According to Australian Bureau of Statistics, retail sales climbed in the first quarter of the year, beating forecasts and depicting a positive outlook for continued recovery in the region where Faire will partner SMBs through financial support offerings like 60-day payment terms.
“Australia is a big country, and it’s not easy for retailers to travel to trade shows. I think Faire will make buying and selling much more accessible to regional and remote communities, and to more independent brands,” said Emma Kate Codrington, founder of Melbourne-based stationery and lifestyle brand Emma Kate Co., available in over 60 countries.
Faire’s launch in Australia follows it’s one-year anniversary of its expansion in the UK and Europe, marking another milestone for the global brand. The company has launched retail operations in 17 new countries, now servicing independent retailers in nearly 20 countries.
Faire plans to grow a dedicated team in Sydney, Australia with nearly 10 current open positions and plans to hire up to 20 employees based in the region by the end of this year.