Lamarwaltersuccess Blog

May 10, 2013

“Company to Watch: Joor”

Filed under: Business, Inspirational, Motivational, Sucessful, Uncategorized — lamarwalter @ 12:38 am

wholesale-pano_25358

By: Reshma Memon Yaqub

Joor lets retailers order wholesale fashions with a click. Check out more about this start-up’s stellar growth.

These days, it seems you can buy almost anything online–groceries, cars, underwear. But when it comes to wholesale orders, some industries still rely on pen, paper, and fax. Joor, a New York City-based start-up, aims to bring wholesale orders into the digital age, starting with the fashion industry.

Joor’s online marketplace lets retailers peruse and order wholesale items from fashion designers. Since its launch in 2010, Joor has signed up 580 fashion brands as clients, including Diane von Furstenberg, Trina Turk, Rag & Bone, and Joie. About 30,000 retailers also use the service, including Bergdorf Goodman and Nordstrom. Last year, $117 million worth of wholesale clothing, footwear, and accessories changed hands on Joor. This year, the company expects to process some $300 million to $400 millionin orders. Joor, which has 30 employees, hit $1 million in revenue in 2012 and has raised $5.5 million in VC funding.

Founder Mona Bijoor got the idea for the company after working as a wholesale fashion buyer for Ann Taylor and A Pea in the Pod. Bijoor says she would often find herself scrambling on a Monday morning to track down, say, white shirts to replace the ones that had suddenly sold out over the weekend. “I would call six different brands,” she says. “One would only have gray, the next would be sold out in Small, the third wouldn’t answer the phone. By the time I got to the fourth, I would take whatever white shirts they had, regardless of the style.” With Joor, orders can be placed anytime–Sunday is the company’s busiest sales day.

Joor is free for retailers, but the fashion brands pay for the service. Joor charges them a subscription fee (about $5,000 to $20,000 per year, depending on the size of the brand and the level of customization required) plus 3 percent of sales. When a brand such as Diane von Furstenberg signs up, Joor helps the company upload photographs, descriptions, style numbers, and prices for all the 500 to 1,500 items in a collection.

Bijoor says her company isn’t trying to replace sales reps or the trade shows at which collections are traditionally debuted to buyers. “Fashion is still a business that’s very much about looking, touching, and feeling the product,” she says. But Joor cuts down on paperwork and reduces errors. Now, instead of spending three hours photographing and writing down style numbers for the 100 to 200 items she wants, a buyer can use Joor’s iPad app at a trade show to log her style, color, and size preferences, and place her order online.

Brands control the interactions. Retailers can’t browse collections unless the brand has approved. Plus, Joor lets brands customize their offerings for particular retailers and track product sales data in real time.

Eventually, Bijoor hopes to expand the site to include wholesale products in the baby, kids, home, beauty, and luxury categories, but she admits that Joor still faces some challenges. Several competitors have already emerged, including NuOrder, Balluun, Monkey N Middle, Modalyst, Lettuce, and Le New Black.

But Joor’s greatest challenge may be persuading traditional brands and the retailers to put down their pencils. Compared with other industries, the fashion world has been remarkably slow to adopt technology, says Deena Amato­-McCoy, a retail analyst at Aberdeen Group. “Fashion is avant garde on style, but not on business processes,” she says. “Fashion does things the way fashion has always done things, even if that means having a trade show in New York City in the dead of winter. There’s an old-school mentality.” If Joor or its competitors can manage to force the fashion industry forward, says Amato-McCoy, “the potential is enormous.”

Advertisements

7 Comments »

  1. Howdy! This post couldn’t be written any better! Reading through this post reminds me of my previous roommate! He continually kept talking about this. I’ll
    forward this post to him. Fairly certain he’ll have a great read. I appreciate you for sharing!

    Comment by wholesale candy individually wrapped — June 30, 2013 @ 5:49 pm

  2. The basic differences in various types of dress shirts lie within the stitching and elegance from the collars of these shirts.
    Every year they take house the coveted title of “ideal coffee”.

    A reseller often won’t are aware that there’s a way to find a good amount of suppliers for a particular product category.

    Comment by wholesale art supplies california — July 2, 2013 @ 2:03 pm

  3. There are Christian clothing retail stores on the web and in local malls.

    A lot of these clothing are likely to be excellent
    options for parties together with laid-back gatherings.
    the British Army itself has quite the high standards to the appearance of the soldiers,
    and they always wear uniforms that represent them in a stylish fashion.

    Comment by 2008 military clothing allowance — July 2, 2013 @ 10:50 pm

  4. The Chinese have reached present the worlds largest producer of hemp clothes.
    Ways of accomplishing this are actually to plunge the
    baby into cold water as well as to expose it to cold winds
    with insufficient clothing. Normal tee shirts
    also boast the small scudetto against a scarlet background or even
    a black background; as well as the fan who likes somewhat patterning to the clothing,
    there.

    Comment by clothing auctions — July 14, 2013 @ 2:34 am

  5. In the United States, a number of the sorority clothing which is popular to put on
    are those that can come from kappa alpha theta sorority, sigma chi, phi sorority, gamma phi beta, phi beta phi,
    alpha phi, alpha kappa alpha, and gamma phi beta.

    With striking offers and discounts, the internet Islamic
    attire shopping gets for you everything you’d like for. Many non-organic fabrics exhaust harmful fumes that when inhaled, it might be particularly bad for developing immune and central nervous systems.

    Comment by wholesale clothing auctions — July 14, 2013 @ 10:55 am

  6. My pieces are carefully constructed using old-schooltailoring techniques.

    A lots of these clothing are likely to be excellent choices for parties as
    well as laid-back gatherings. Often, an Orthodox Jewish woman will wear
    a matching scarf to be with her head for swimming so her scheitel does not get ruined.

    Comment by harley davidson clothing apparel for children — July 14, 2013 @ 10:58 am

  7. My pieces are carefully constructed using old-schooltailoring techniques.
    With over 60 years of experience asa couture seamstress,
    my grandmother started her fashion journey makingcustom
    couture gowns for Arabian princesses in Lebanon. Normal tee shirts also have
    the little scudetto against a scarlet background or
    possibly a black background; but for the fan who likes just
    a little patterning to the clothing, there.

    Comment by urban christian clothing and apparel — July 14, 2013 @ 4:21 pm


RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.

%d bloggers like this: