JOOR, an industry-standard digital wholesale platform for fashion, beauty and home, has announced it acquired B2B wholesale technology, Veee, and is entering into a strategic partnership with Premium Group, Europe’s premier fashion trade show organizer. These new relationships not only further JOOR’s leading presence in the European market, but exemplify the company’s mission to bring wholesale together to advance and grow the industry for brands and retailers everywhere.
The wholesale industry is in the midst of drastic transformation, with technology driving a new status quo for retailers and brands alike. The timeline from product creation to showcase to delivery is rapidly shrinking, and creating both stress and shifting preferences for retailers and brands. These players have an immediate need for a centralized digital platform where they can easily manage and capture a holistic view of their business at any given time.
“At JOOR, our mission is to help the entire wholesale industry thrive by creating one innovative ecosystem where all brands and retailers can easily exchange data to efficiently and profitably grow their wholesale business,” said JOOR CEO Kristin Savilia. “In doing so, we realize the importance that trade shows play in this process, which is why we’re thrilled to partner with one of the world’s leading fashion authorities, Premium Group.”
While trade shows are essential face-to-face touchpoints nowadays and remain an important sales channel for the wholesale industry, their traditionally analog foundation leaves many retailers and brands using offline processes to capture and organize their experience at these events. By partnering with Premium Group, JOOR will be able to provide retailers and brands a digital-first approach to trade shows, creating higher efficiency and ROI tied to event investments.
“With JOOR, and its recent acquisition of Veee, we found the perfect partner to bolster our digital capabilities,” said Anita Tillmann, managing partner of Premium Group. “Through this partnership, we look forward to furthering the progress that’s been made to bridge the offline and online experience at our events and support our long-standing network of retailers and brands worldwide in accessing the US-market.”
With the acquisition of Veee.com, roughly 1,800 of Veee’s existing customers will be added to the JOOR platform, offering them new efficiencies and access to the global retailers already on the JOOR platform.
“We’re thrilled about the progress we’ve made since launching in 2018 with an impressive brand portfolio across different market segments. With the platform we hit the nerve of the industry,” said Jeanny Wang, co-founder and managing partner of Veee.
“Sharing the same vision, we’re excited about joining forces and the added benefits JOOR will bring to our existing customers and the impact this will have on the industry overall,” said co-founder and managing partner of Veee, Thomas Johann Lorenz.”
In addition to the acquisition, Thomas Johann Lorenz will assume the role of commercial advisor at JOOR.