Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
The online marketplace for goods made by artisans came out of it beta test period last week.
Etsy, an e-marketplace that reports hosting a total of some 30 million buyers and sellers, officially launched its wholesale e-commerce site last following its beta test period.
Part of what it learned that the beta period, the company says, was how to provide strong integration between its retail site, Etsy.com, and its wholesale section at Etsy.com/wholesale, to let merchants sell to both retail and wholesale customers. Etsy merchant Moxie & Oliver, which sells items like leather wallets and guitar straps, has started selling through the wholesale section and has found it easy to manage product listings for wholesale as well as retail customers, Moxie and Oliver owner Caitlin McNamara says. “I love the integration of wholesale into my retail shop,” McNamara says. “It’s making my life so much easier to manage my listings on both platforms.”
Etsy is charging wholesalers a one-time fee of $100 to start selling on Etsy.com/wholesale, plus a per-transaction fee of 3.5%. Etsy is No. 30 in the Internet Retailer Top 500, which ranks companies by their web sales.
Etsy is taking several steps to promote its wholesale marketplace. This week, for example, it is showcasing its Etsy Wholesale Pavilion in New York at the NY Now, the Market for Home + Lifestyle trade show at the Jacob K. Javits Convention Center. 24 of the merchants who participated in the Etsy Wholesale beta test will display their products in the Etsy Wholesale Pavilion.
The pavilion will also provide a cyber lounge where retailers will have online access to all wholesalers selling on Etsy’s e-commerce site. In addition, more than 70 Etsy wholesalers will be exhibiting independently at the New York show.
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