YOOX – THE new fashion marketplace?
The Italian company YOOX has been around since 2000, since then it has become one of the world’s leading online stores for fashion, design and art, with a loyal customer base. In January 2022, YOOX took the plunge and launched its own online marketplace. Initially, it focused only on fashion, but now also includes furniture and home accessories, united under the new category ‘Home Décor + Art’.
YOOX in brief
YOOX is already present in 27 European countries with around 300 sellers, i.e. brand manufacturers and retailers. As the popularity of the marketplace continues to grow outside of Italy and Southern Europe, there are also already plans for further expansion into the USA, the Middle East, North Africa and Japan. As the world’s leading online store for fashion, design and art, YOOX offers 300,000 products and 2500 fashion brands for its customers. Since the launch of the marketplace in January, YOOX has already quadrupled the number of its fashion brands. Recently, another 10,000 new Home Décor + Art products were added to the assortment. The long-term goal of YOOX is to reach 1 million products in the online store.
How do I become a partner?
To become a partner of YOOX, an application must be sent to YOOX. Requirements for acceptance are sufficient inventory, a legal entity, and a VAT ID in the EU. Once accepted, one can then set up their space on the platform and add their products.
The marketplace has formulated its own rules for the creation of images. For example, at least 2 photos must be used, uploaded in .jpg format. Also, some information such as brand, color or main material are mandatory. Those who like to provide a lot of information to their customers will find some options for this on the platform: For example, in addition to a product description, the other components of the product or even the name of the model can be displayed.
The costs to sell on the YOOX Marketplace are limited. There are no setup costs, but a monthly fee of 50€ is required. In addition, there is a commission, which depends on the potential of the seller. Most of the time this is around 24%. These payments then take place 3 times a month.
Our opinion of YOOX
YOOX is a promising new player among the fashion marketplaces. Currently, the offer is not quite complete: There are currently no retail media options, customer service is left up to the seller, and logistics solutions are still being worked on. Nevertheless, we think this new marketplace has great potential and are excited to see how YOOX will develop.
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