Toscano, Y Ventures team to launch Faire Leather
Men’s leather accessories retailer Toscano has formed a joint venture with e-commerce company Y Ventures Group to set up an online-only private label, Faire Leather.
It is the first time Y Ventures has expanded the use of its proprietary data analytics to develop a private label with a brand partner. The technology is currently used to help brand partners sell online drawing on consumer preferences and price points.
Faire Leather will manufacture luxury leather products for men at a value-driven price point. The range includes padfolios, card cases, briefcases, backpacks and small leather goods.
Y Ventures will use its analytics to provide insights into demand trends, pricing intelligence, consumer sentiment and market competition. It will also coordinate distribution and fulfilment.
Toscano originated in Florence, Italy, with the Stefano family, and specialises in bespoke leather products. It is run by father-and-son team James and Joseph Lor.
Toscano executive officer Joseph Lor will oversee the day-to-day running of Faire. “With our online direct-to-consumer model we intend to create a brand that makes functional luxury products without the traditional mark-up, bringing value to consumers worldwide,” he says.
Y Ventures, which listed on the SGX last month, has a 51 per cent interest in the JV, the balance being held by Toscano.
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