Afingo’s latest entrepreneurial project, ShopToko, is the first B2B pop-up site to offer quality fashion products to boutique shops at prices that are often reserved only for gross retailers. With this revolutionary business model, creator Liza Deyrmenjian (co-founder and CEO of Afingo.com) aims to fill the gap in the B2B market by leveling the playing field between local boutiques and department stores.
Armed with an advisory board that includes designer Cynthia Rowley, ShopToko is poised to change independent retail. Each week, a selection of exclusive merchandise pops up and is available for purchase within 48 hours of going live. Retailers can spend according to their budgets with no minimum quantities required, thereby offering the freedom to opt for smaller test quantities or to stock up on popular items. By building a community of small businesses, ShopToko essentially makes a group purchase of unique goods equivalent to that of larger retailers. This innovative approach to wholesale not only alleviates the pressure of bulk inventory, but allows the autonomous retailer to compete in the market and reap the benefits of better profit margins.
Designers also gain from this unique wholesale structure as ShopToko offers pro bono customer acquisition. That is to say, brands gain stockists like Bou Cou Boutique in Montgomery, Alabama, without the costs associated with securing new business. Triumphant labels to make ShopToko’s virtual tradeshow are selected by buyers who probe local and international markets for goods valuing authenticity, quality manufacturing and cause. Balancing both established and new labels, ShopToko introduces up to 12 styles from each designer. For last week’s launch, the site features exceptional goods like Britta Ambauen’s handmade and inspirational jewelry and Miguelina’s silky kaftans, while Brooklyn-based EAYRSLEE’s utilitarian handbags made from canvas and Argentinian leather have rounded out the successful accessories offerings. Upcoming sales include Lulu Frost’s vintage inspired jewelry and Californian lifestyle label Heidi Merrick. And in the New Year, retailers will have access to pop-up sales biweekly.