My Trade Lounge claims to be Australia’s first online virtual showroom that stitches the gap between designers and retailers. The startup aims to give designers a fundamental boost in the fashion wholesale industry and offer retailers an easier way to pre-order wholesale products online.
By digitising the wholesale process, My Trade Lounge makes it more cost efficient for designers to showcase their collections and connect with potential wholesale buyers nationally.
Founded by Mia and Camille Keating, the idea behind My Trade Lounge was inspired by frustration. While working in international product distribution, they found themselves wasting a lot of time and money sourcing potential buyers.
Realising that the wholesale market was falling behind in the technology-driven age, they decided to digitise the wholesale process. This meant minimising paper work, fax machines, emails and phone calls, to cut down time and streamline the pre-order placement prices.
“Currently there are only a few options for designers to access buyers either via email, phone, trade shows or visiting each individual retailer, all of which can be expensive or time consuming,” says Camille in the media release.
Agreeing with the sentiment, Mia says, “We discovered that most designers don’t have the time or finances to grow their labels stockist base as much as they wanted to due to geographical restraints. We also discovered that retailers are spending a lot of valuable time sorting through and filling out excel spreadsheets, look-books and line sheets only to have to fax, email or call through their orders.”
My Trade Lounge places designer’s products in front of buyers 365 days of the year – meaning that they can showcase every season’s collection to buyers at the click of the mouse. Each brand has its own personal showroom with high resolution images of its current collection.
Designers can invite potential buyers to view their virtual showroom; and from there, buyers can connect instantly with brands, place pre-orders and manage their network of business relationships.
For buyers, My Trade Lounge aims to make pre-order placement an efficient system with a ‘shopping cart’ like process where buyers can place one pre-order for multiple brands simultaneously.
“We are not only giving retailers an easier pre-order process, we are also allowing them to discover new brands and products to offer their customers,” says Mia.
My Trade Lounge is free for retailers, and for brands it’s free for the first month and $99.00 per month thereafter.
For more information, visit www.mytradelounge.com.au.