Whatafind.com, which went live last week, stocks middle- to high-end furniture and homewares with discounts of up to 75 per cent and is designed to give retailers a credible channel through which to shift their clearance stock.
The site, set up by managing director Miranda Grubb and her business partner, operations director Martin Newell – who also previously worked at OKA Direct and Marks & Spencer – operates on a commission-based model. It is backed by several business people, including Last.fm’s Stefan Glaenzer and Skype’s Taavet Hinrikus.
The web site involves more than 10 brand partners including retailers and suppliers selling over 700 products, such as Feather & Black, Duresta and The Cotswold Company. Grubb said she would like to increase the number of brand partners to 100 in the next year.
“This takes the seasonality out of clearance sales and assists quality brands that don’t have a credible route to market,” said Grubb. “Today’s economic climate will help us get off the ground but retailers will always have clearance stock. There’s no one else in this space. We want to be the Auto Trader of clearance products.”
Retailers displaying their stock on Whatafind.com will be responsible for the delivery of any products sold on the site.
“Our vision is that Whatafind will become the brand of choice that consumers turn to for clearance from quality brands online,” said Grubb. “Retailers can cut down on what looks like a lot of clearance, meaning they gain credibility with consumers and so protect their brand.”
Feather & Black director Adam Black said the site will help the retailer develop an efficient route for clearance. He said the ongoing market downturn offered it a “competitive advantage”.
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