How retail companies like Faire, Food52, Stitch Fix, and GlossGenius are finding innovative new ways to engage consumers.
For creating a marketplace that helps brick-and-mortar stores and small brands thrive outside of Amazon.
Founded in 2017 by Square alums, Faire is a wholesale marketplace that helps 350,000 boutiques and independent retailers stock their shelves with curated products from 50,000 brands without the hassle of trade shows and paperwork.
Faire tries to level the playing field by eliminating inventory risk by allowing vendors to see if a product resonates with customers before placing a big order, and providing access to capital. The company’s new Open With Faire product allows aspiring shopkeepers to apply for up to $20,000 in Faire credit to purchase inventory, with a 60-day grace period before payment is due.
For brands, the platform offers sales, marketing, and analytics services that support their growing businesses. As Faire expands—it pushed into Europe this year—it helps Main Street shops better take on Amazon and major chains, while also allowing newer brands to surface their products with retailers.
In 2021, Faire landed $400 million in Series G funding, bringing its valuation to $12.4 billion, and was on track to do over a billion dollars in sales.