Zalando & Bestseller United team up to support FashionTrade.com

London - Online giant Zalando and Danish fashion organisation Bestseller United have entered into a joint venture agreement for the shared ownership of B2B online fashion wholesale marketplace FashionTrade.com.

Following the formation of the joint ownership, which sees both companies share equal ownership of the online marketplace, Zalando and Bestseller United, are set to invest in the long-term growth and development of FashionTrade.com business offering. "This joint venture is rooted in a vision to digitize the fashion wholesale industry, and we are proud that FashionTrade.com is at the forefront of this change," commented Pernille Geneser, CEO of FashionTrade.com in a press release.

"The additional investment will enable us to continue building intuitive, digital solutions that both fashion brands and retailers can use to grow their business more cost efficiently," he added. Although the online fashion marketplace has only been live two months, over 40 brands have already sign on for their services, with an additional 200 brands set to join, according to a spokesperson. FashionTrade.com was originally founded in 2015 with the backing of Bestseller United and provides a global business-to-business fashion marketplace where retailers and brands can connect to each other for smarter business trade.

"The buying and selling process within the fashion industry still relies heavily on manual solutions. We see big potential in how FashionTrade can optimise these processes to connect brands and retailers in a simple way," said David Schneider, Zalando co-CEO, and co-founder. "That’s why we decided to invest together with Bestseller United in this smart approach, which will enable the global B2B fashion market to leverage the potential that digitization and technology has to offer." The investment is said to tie in with Zalando's wider strategy as the company continues to link numerous players in the fashion industry.

FashionTrade.com aims to become an international leader in the B2B fashion marketplace by streamlining the sale and purchase of wholesale items. The company also offer data insights for business partners to help them improve their margins. "Digitising the wholesale experience and connecting brands and retailers in a simple online solution holds a great potential for the future of B2B fashion," said Anders Holch Povlsen, owner of Bestseller United. "That’s why we are pleased to welcome Zalando and their expertise into this partnership that we expect will bring beneficial insights to brands and retailers alike."

Photos: Courtesy of FashionTrade.com