Shopify Deepens Ties to B2B Marketplace Faire
Shopify has invested in B2B retail marketplace Faire to create a partnership that will streamline operations for small producers and retailers who use both platforms.
In an email announcing the news, Faire co-founder and CEO Max Rhodes wrote that the partnership will allow for a “simpler, better, and more intuitive ordering and inventory management that will save time and make our brands and retailers even more successful.”
“This partnership will build on an existing inventory, product, and order integration on Faire -which has already driven incredible value and efficiency for brands and retailers alike -and deepen opportunities for business growth alongside Shopify’s merchant community,” he said.
In 2021, Faire built Shopify integration into its system, giving brands the ability to manage wholesale inventory and orders. The integration also allowed retailers on Faire a streamlined process to organize products into Shopify accounts.
The new partnership aims to build on the initial collaboration by establishing Shopify Point of Sale as the preferred provider for Faire’s independent retail community, enabling unified commerce across in-person and online selling.
The updated integration is expected to simplify the process of importing new products from Shopify to Faire eliminating the need for manual linesheet uploads, will streamline updated inventory between the two platforms and will sync orders directly from Faire to Shopify for fulfillment.
Faire has also launched buyer and seller apps in the Shopify App Store to accelerate the benefits of the partnership to customers.
Along with the platform integration, the deal intends to open up each business’ customer base to one another introducing Faire clients to Shopify and vice versa.
“Through our strategic partnership with Faire, we are doubling down on our strategy to enhance B2B commerce by making it easy for Shopify merchants to find new wholesale buyers via Faire’s wholesale marketplace, and enable retailers to source products seamlessly from Faire’s extensive network of brands,” said Shopify director of product Aneeqa Khan in a press release statement.
In February 2021, online wholesaling platform Hubba announced it was ceasing operations paving the way for Faire to become one of the go-to marketplaces for emerging CPG brands to sell products to retailers. Faire would go on to close a $260 million funding round led by Sequoia Capital in June 2021.
