JOOR, an online marketplace that connects fashion brands and retailers around the world, has opened its first China office in downtown Shanghai as it eyes growth in the region.
The 11-year-old New York-based company works as a virtual showroom for brands, which traditionally would meet with their retail partners in physical venues to showcase the latest collections. With JOOR, showrooms become live videos, a feature that has no doubt proven useful during COVID-19.
The company also gives brands a set of data tools to analyze their sales that can inform future productions. For buyers, the benefits are similar -- they are able to see which brand or product is trending and make better forecasts.
The expansion into China follows a robust year for JOOR in APAC and the opening of its offices in Melbourne and Tokyo. JOOR's wholesale volume ordered by retailers in the region grew 139% year-over-year in 2021, and wholesale volume for APAC-based brands was up 419%, the company said in an announcement.
"The establishment of JOOR Shanghai will allow us to provide frictionless wholesale management to the range of fine brands and retailers across the country," said JOOR's CEO Kristin Savilia in a statement. "It builds on our existing leadership position in North America and Europe, and we expect continued expansion across the Asia-Pacific region."
JOOR's marketplace boasts more than 12,500 brands and over 325,000 retailers around the world to date. The company has raised over $35 million in funding, according to its disclosed rounds. Its investors include venture capital firms Battery Ventures and Canaan Partners, as well as the 71-year-old Japanese trading house Itochu.