Yaytrade in new partnership with Filippa K – impressive launch
Yaytrade recently announced a new strategy, taking aim at the issue of over-production in the fashion retail business. By partnering with premium fashion brands to sell off overstock, samples, and returns; Yaytrade has turned a fashion industry headache into a business opportunity – at the same time supporting the circular economy.
Concurrent to implementation of this new vertical, Yaytrade released a redesigned platform. The elegant user focused design is currently a finalist for a Swedish Design Prize, with the winner to be announced in November.
The robust design and agile product team are able to quickly design and release new features. After successful iterations with smaller brands, Yaytrade teamed up with Filippa K – one of Sweden’s leading fashion brands – for a big event: The Exclusive Access Sample Sale.
For this invitation-only happening Filippa K offered up samples, returns, and outgoing stock from more than 5 seasons on Yaytrade. The schema saw the deals available first to Filippa K employees, before friends and family were invited to join the sale.
80% of the inventory was sold in just 3 days.
“It was a success. The fact that Filippa K could offer all employees around Europe to be part of the same sale was really appreciated. We’re taking the traditional outlet, putting it online, and customizing it to the brands wishes”, says Sebastian Van Der Beek, Sales Manager at Yaytrade.
Physical sample sales are expensive and time-consuming for fashion brands. Everything is pointing towards the digitalization of outlets and these kinds of sales.
“It was a perfect way, especially in the current pandemic, to host our yearly sample sale. Yaytrade offered a complete solution custom-made for us. It allowed us to stay focused on internal processes and upcoming collections”, Jenny Broström comments, Retail Manager at Filippa K.
Yaytrade are currently working closely with several brands, tailoring upcoming events to the needs and wishes of each brand.
“Managers in the fashion industry want to focus on current and upcoming seasons. The concept we are offering lets them do exactly that. Moreover, the fact that they can extend the life of old stock and increase revenue is another plus.
With our member base and network of influencers, brands will reach a broader audience than physical samples sales limited to a certain area. By hosting an online event Filippa K reached and converted buyers in over 10 countries, resulting in an impressive sell-through rate”, Yaytrade CEO David Knape adds.
Yaytrade have had their best year yet, with strong growth – not affected by this year’s pandemic. They are currently reviewing the opportunity for an IPO sometime during H1 of 2021. At the moment they are closing up a pre-IPO round led by Jinderman & Partners AB and JJV Invest AB. Yaytrade has appointed Eminova Partners AB as their Certified Advisor.