Learn how Paris Fashion Shops is fast-becoming the first ecosystem to combine fashion and tech thanks to Mangopay's B2B marketplace solutions.
About Paris Fashion Shops
Paris Fashion Shops is the first French multi-service platform for independent fashion professionals. Based in Paris, the marketplace connects over 1,000 brands and wholesalers in the Ile-de-France region to over 120,000 independent fashion boutiques in over 180 countries.
Inspired by the success of the marketplace model that secures transactions for both sellers and buyers, in 2016, Parisian fashion wholesaler Jacky Z. Chang decided to launch a digital platform to help independent merchants source Parisian fashion goods.
Its goals:
- Support and boost the activity of fashion professionals
- Secure transactions
- Create a whole infrastructure of services to ensure conversions
- Optimize shipping
Business model
Paris Fashion Shops is a wholesale marketplace operating in a B2B environment. Boutiques around the world can order from a broad catalog of over 500,000 items created by independent brands and designers. In addition to being a trusted third-party platform, Paris Fashion Shops handles photography and the creation of product sheets as well as shipping and customer support. It derives revenue from charging sellers a commission on sales.
Paris Fashion Shops’ challenges
- Comply with marketplace regulations
- Facilitate the onboarding of sellers
- Guarantee the payment of sellers in a secure and fast manner
- Adapt payment mechanisms to industry standards
- Build loyalty with customized payment features
- Internationalize operations and footprint
How Mangopay supports Paris Fashion Shops
Mangopay has accompanied Paris Fashion Shops since its creation in 2016. Developers appreciated the ease with which they were able to seamlessly integrate the PSP’s flexible API. Mangopay’s payment experts collaborated with the platform to adapt workflows to the specificities and requirements of the B2B model, particularly in relation to automated payments, ensuring complete traceability of all payment flows.
Mangopay works with Paris Fashion Shops to build custom payment flows, offering users payment methods adapted to the average basket and facilitating reconciliation thanks to Ibanization.
A full-stack payment infrastructure designed for B2B platforms
Mangopay manages all of Paris Fashion Shops’ transactions in compliance with marketplace regulations, including PSD2, GDPR and PCI-DSS directives and standards.
- With a single contract, Paris Fashion Shops benefits from Mangopay's EMI license and can operate throughout the European Economic Area, which includes 30 countries.
- The flexibility of Mangopay's e-wallet system allows the creation of workflows tailored to the platform's needs. Paris Fashion Shops can create as many and different types of e-wallets as needed.
- Mangopay’s payment flows adapt to B2B business rules: buyers’ funds are held securely in e-wallets until sellers validate the order, and billing cycles are automated.
- For pay-in, a broad range of international and local payment methods are available and can be activated instantly. Paris Fashion Shops uses cards, Ibanization and bankwires.
- The automation and validation of KYC (Know Your Customer) ensures a smooth and fast onboarding of sellers.
- For payout, Mangopay can carry out payments in 15 currencies.
Results
From 50,000 euros in transactions its first year, Paris Fashion Shops processed nearly 60,000,000 in 2022 - a 99,900% increase in just over 6 years.
Mangopay’s custom workflows and frictionless payments capabilities have allowed Paris Fashion Shops to consolidate its offer over time and create an ecosystem of independent fashion brands.
Paris Fashion Shops has been able to provide its users with a range of services, including pre-authorization with an automated return policy, management of multi-vendor baskets, and VAD secure.
Ibanization, which allows each buyer to be identified via a unique IBAN, has enabled the platform to develop its cost-efficient, time-saving and environmentally friendly solution that can bundle up to 3,000 orders a day into 500 to 600 shipments so that shops receive their goods all at once, with shipping costs reduced to a minimum.
Paris Fashion Shops can count on Mangopay’s compliance, finance, fraud, and technology experts to advise its teams on the integration of new functionalities or on expanding into new countries based on its objectives and local specificities.
Sights on global expansion
Paris Fashion Shops has the clear ambition of becoming the first ecosystem to combine fashion and tech. By 2031, the marketplace aims to garner one billion euros in sales.
To achieve its goals, it not only wants to consolidate its current B2B activity, but is also developing new revenue streams. In addition to delivering to 180 countries worldwide, its next big step is breaking into the international market, especially Spain and Italy, with assistance from Mangopay’s local payment specialists.
Furthermore, the company is also looking to diversify its activities with the launch of a dedicated B2C marketplace.
We’re proud to be part of success stories like this one and are committed to anticipating and meeting the needs of platforms of all sizes and types.
If, like Paris Fashion Shops, Malt, Chrono24, Leboncoin, Rakuten, Carrefour and more than 2,500 other platforms, you would like to use our API, our payment experts are here to help.
