NEW YORK--(BUSINESS WIRE)--INTURN, the first online B2B platform built to enable brands and retailers to confidentially buy and sell excess inventory on a global scale, today announced that it has appointed off-price merchandising executive Tony D’Annibale as Senior Vice President and Head of Marketplace. In this role, Mr. D’Annibale, who joins INTURN’s senior management team, will be responsible for building out and overseeing the Company’s global off-price marketplace.
“Tony brings a strong network of industry relationships that will broaden our pool of buyers and sellers, and enhance our ability to help brands optimize the value of their excess inventory,” said David Solomon Chief Revenue Officer of INTURN. Ronen Lazar, Co-Founder & Chief Executive Officer of INTURN added, “Tony’s extensive off-price merchandising expertise in both traditional and digital retail will be extremely valuable in the continued growth and innovation of our global excess inventory platform.”
Mr. D’Annibale joins INTURN with more than 30 years of off-price retailing expertise, including Chief Merchandising Officer of Rue La La, Executive Vice President of Merchandising at Loehmann’s Inc. for over 20 years, and most recently, President of LA-based off-price wholesaler, Jessica’s Brands. In his new role, Mr. D’Annibale will report directly to Mr. Solomon.
“Having been on the merchandising side of the equation, I have seen firsthand the inefficiencies in the historically manual process of buying and selling off-price inventory,” said Mr. D’Annibale. “I am very excited to join INTURN and become part of its solution as it automates the process, while speeding and enhancing the value recovered for brands and retailers.”
“I have known and respected Tony for 20 years and am excited by his joining the INTURN team,” said Ken Seiff, Managing Partner of Beanstalk Ventures. “Tony is unique in the off-price space for both his breadth of relationships with designer brands and for the highest level of integrity, confidentiality and partnership he has earned. His joining the team is exciting for us as investors because it is a reflection of how far the INTURN business has come in just a short amount of time.”
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.