Shopify invests in wholesale platform Faire
What: Shopify has invested in wholesale platform Faire in a global deal.
Why it is important: The partnership aims to make it easier for Shopify merchants to find wholesale buyers and for retailers to source products from Faire's network of brands.
Faire, valued at USD 12.59 billion, will become the recommended wholesale marketplace for Shopify merchants. Faire focuses on independent businesses and offers a solution for brands looking to switch to a wholesale model to reduce costs.
The specific details of the deal, including its value and Shopify's stake, have not been disclosed.
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