Shopify becomes shareholder in wholesale marketplace Faire

As part of a new global partnership between the duo, commerce developer Shopify has become a shareholder in Faire, making the B2B retail marketplace the recommended wholesale platform for Shopify merchants.

The move to become a shareholder reflects the long-term commitment Shopify is making towards the partnership, which will expand on its B2B offering and aims to drive growth for brands and independent retailers using both sites.

Shopify Point of Sale (POS) will also become the “preferred provider” for Faire’s own retail community, providing deeper access to Shopify opportunities for users of the platform.

In a release, Aneeqa Khan, director of product at Shopify, said: “Through our strategic partnership with Faire, we are doubling down on our strategy to enhance B2B commerce by making it easy for Shopify merchants to find new wholesale buyers via Faire’s wholesale marketplace, and enable retailers to source products seamlessly from Faire’s extensive network of brands.

“We’re thrilled to join forces to make commerce better for independent businesses.”

Aligning with the partnership, new features, such as the ability to reorder via Faire’s integrated buyer app and the simplification of wholesale distribution on Shopify, will be introduced over the coming months.

On the agreement, Max Rhodes, co-founder and CEO of Faire added: “At Faire we have long admired Shopify’s like-minded approach to building tools that empower retail entrepreneurs to run their businesses as efficiently as possible.

“By decreasing barriers to B2B selling and building deeper connections between our customer communities, we can unlock opportunities for small business growth on a much larger scale.”