Debenhams Group launches faster payments solution for marketplace sellers

British fashion giant Debenhams Group has partnered with financial services provider Storfund to give its more than 30,000 brand partners faster access to sales revenue ahead of the Christmas trading period.

The solution, called Daily Advance, is now available across the group's marketplaces and allows eligible sellers to access up to 80 percent of the value of shipped orders each day, instead of following the marketplace’s standard payment cycle. The remaining balance is released when Debenhams Group makes its regular payment, minus applicable fees.

Participation is optional and subject to eligibility, with Storfund charging no subscription or set-up fees. The launch follows growing demand for Daily Advance among Debenhams sellers, prompting the retailer to integrate the service directly into its marketplaces, including that of Debenhams, Boohoo and PrettyLittleThing.

The service intends to improve sellers’ cash flow, allowing them to reinvest in stock and respond more quickly to customer demand during peak trading periods. Debenhams Group said the arrangement could also support product availability and choice for shoppers.

In a statement, Dan Finley, chief executive of Debenhams Group, said: “Our marketplace-led strategy is built on creating an ecosystem where great brands can scale with us. As we grow our marketplaces, we want to make Debenhams Group the partner of choice for brands looking to reach millions of customers and accelerate their growth.

“Giving sellers faster access to their sales revenue gives them greater flexibility to reinvest in their businesses when they need it most - particularly as we head into peak Christmas trading. It’s another example of how we’re supporting our 30,000+ brands and making it easier to do business with Debenhams Group.”

The move comes as Debenhams Group continues its digital marketplace expansion. Marketplace sales accounted for 38.9 percent of gross merchandise value, up from 32.7 percent in the same period last year.