Shopify takes stake in wholesale platform Faire

Shopify is officially teaming up with the wholesale market company Faire. This is no casual fling - Shopify is betting big, integrating and investing in Faire's cutting-edge technology.

Faire is weighing in at a hefty $12.59B, is set to become the marketplace of choice for Shopify's merchants seeking wholesale opportunities. The financial commitment on Shopify's end remains undisclosed, but it's clear that its a serious investment.

• For Context: Faire is already collaborating with over 100,000 brands and providing close to 10 million products. While Shopify has been steadily attracting larger merchants with an assortment of tools to improve their B2B tactics, the alliance with Faire is yet another strategic move in this direction.

• Connection Made Easy: Shopify's vendors can now effortlessly connect with wholesale buyers, and retailers can access Faire's impressive selection of brands. Recently, many brands have been moving away from the direct-to-consumer model, looking instead to the wholesale market to reduce operational costs.

• Unique Retail Opportunities: Small retailers are constantly seeking unique selling propositions to stand out in a fiercely competitive environment. Faire's "not on Amazon" filter offers a distinctive advantage, allowing retailers to offer products not found on mainstream platforms.

While the U.S. is Faire's biggest market, Europe is showing a growing interest, especially following Faire's launch in 15 countries in 2021.