There is an estimated £5billion tied up in the UK manufacturing market alone. buyfair are looking to unlock this capital as we tackle the global overstock crisis. A highly scalable business model, initially targeting homeware with the potential to scale globally across all sectors.
Global overstock levels have become critical. buyfair is the digital solution to this problem. The UK homeware market alone is worth an estimated £5billion. buyfair is on a mission to unlock this capital. Take a minute to think about the potential of this business when you consider all industries across the world.
Our CEO Dominic Speelman experienced this problem in his other business, Make International (global ceramics), where after Brexit, many retailers pulled their orders due to economic uncertainty. buyfair was born.
Put simply, buyfair aims to be a premium version of ebay, for business. buyfair has many unique features including a multi-lot algorithm allowing large quantities to be sold in smaller lots in a brand safe environment protecting premium brands and giving them the ability to vet customers. Buyers get fair prices and can buy goods which are in stock locally rather than ordering from scratch.
Since launch in May over 150 premium brands in 18 different countries have signed up as sellers including Tom Dixon, Modus, LSA, and Black & Blum. There are now an average of almost 600 live auctions per day.
We have already raised over £250k which has been invested in the development of the website to deliver a user-friendly, real-time auction platform.
buyfair is looking to raise a further £250k for buyer acquisition, marketing & tech development as it becomes a must-use site.