NEW YORK--(BUSINESS WIRE)--INTURN, the first online B2B software solution that reinvented the way brands and retailers sell and purchase off-price inventory, today announced that it has added significant features to allow its brand partners to transact globally. Launched last April to automate the process for brands selling excess inventory in the U.S., INTURN’s new functionality enables global brands to optimize the off-price market by removing the inefficiencies and barriers such as varied pricing, currency issues and underdeveloped infrastructure.
“It’s no secret that the single greatest inventory challenge for fashion and apparel brands occurs in international markets,” said Ronen Lazar, INTURN’s CEO and Co-Founder. “INTURN was founded to solve these challenges, and we are now actively optimizing global operations for major brands in a way that could not have been done before. We believe U.S. off-price retailers will also benefit from our global solution as it allows them to source product directly from international brands far more efficiently.”
Key new features include:
- Global visibility of sales activity across all markets
- Off-price inventory management and allocation for multi-geographic market offerings
- Multi-market pricing systems to support different pricing levels
- Price optimization and margin analysis across multiple markets and currencies
- Multi-market offers and negotiation, enabling transactions in multiple currencies
- Global insights, including real-time analytics and detailed historical data across all markets
The current process of selling excess inventory in international markets is fraught with challenges. Pricing can vary more than 25% in adjacent countries, as value, perception and currencies change from one market to the next. The off-price marketplace is also less developed internationally, where a limited number of buyers creates fewer opportunities and a lower value on merchandise. At the same time, manual and antiquated methods used to sell excess inventory have left the process costly and inefficient. INTURN’s new features provide the solution.
“INTURN is now empowering brands to optimize the value of their excess inventory on a global level, by broadening the pool of potential buyers and identifying the optimal countries, markets and opportunities to sell excess inventory, all while removing the complex multi-market pricing models and ensuring there is no channel conflict,” added Mr. Lazar.
“By supporting and empowering its global business partners, INTURN is strengthening its case to be the trusted platform for the off-price market,” said Luis Chou, Partner at Novel TMT Ventures. “I believe that INTURN’s trading platform will ultimately streamline the industry and add significant value and liquidity to what is today an incredibly convoluted network of buyers and sellers. This is an absolute game changer for every retail CFO.”
INTURN is the first online, global B2B marketplace for brands to sell their excess inventory to off-price retailers. The platform protects the brands’ integrity by connecting buyers and sellers in private online showrooms, and only after a mutual opt-in process. INTURN’s first vertical focus is the $250 Billion fashion and apparel sector. The online marketplace brings together, for the first time, buyers and sellers from all over the world and provides them with automated tools to replace what is a manual, painstaking, error-prone process. The result is a solution that provides retailers a chance to find more inventory and brands a chance to find the ideal retailer faster—while delivering a powerful opportunity for both sides to increase profitability. INTURN is designed and led by retail industry veterans and technology experts and funded by leading retail technology venture capitalists. For more information visit www.inturn.co.