Onport & FARFETCH Explained
We are excited to annouce that we have been accquired by FARFETCH and have taken the decision to retire the Jetti brand name and rebrand to become Onport. This will not only reinforce and bolster our offering to the market but further equip us to better navigate the challenges that lay ahead of us.
Of course, that is not the only news we have to share - Onport will now operate as part of the FARFETCH family. This has been a long and exciting process, full of growth and a time of great validation in terms of what we have achieved so far and that we are on the right track going forward.
Before we explain how the acquisition and Onport name came to be, let's outline who FARFETCH are and how they will help empower us in the future.
FARFETCH (NYSE: FTCH) is the leading global platform for the luxury fashion industry. Founded in 2007 by José Neves for the love of fashion, and launched in 2008, FARFETCH began as an e-commerce marketplace for luxury boutiques around the world. Today, the FARFETCH Marketplace connects customers in over 190 countries and territories with items from more than 50 countries and over 1,400 of the world’s best brands, boutiques and department stores, delivering a truly unique shopping experience and access to the most extensive selection of luxury on a single platform.
The additional FARFETCH businesses include Browns and Stadium Goods, which offer luxury products to consumers, and New Guards Group, a platform for the development of global fashion brands. FARFETCH offers its broad range of consumer-facing channels and enterprise level solutions to the luxury industry under its Luxury New Retail initiative. The Luxury New Retail initiative also encompasses FARFETCH Platform Solutions, which services enterprise clients with e-commerce and technology capabilities, and Future Retail, which develops innovations such as their Connected Retail solutions.
Why The Acquisition
As a SaaS company for online marketplaces, Jetti found itself in a uniquely advantageous position during the COVID-19 pandemic and as a result, began to see rapid growth, allowing the business to expand not just externally but also internally too.
As a leading global technology platform in the area of luxury fashion online retail, FARFETCH was quick to see the intrinsic value of such an innovative and all-encompassing marketplace solution as Jetti. Seeing the future potential of the company, the fashion group decided to incorporate the company into their technology and logistics sector.
From Jetti To Onport
To further explain our maturation process as a company, we felt it pertinent to give some background into how we have chosen our names, from the original brand name Jetti to Onport, and why this new name perfectly captures our evolution as a company.
The act of shipping is key to international commerce - the transportation of goods across the oceans helps to keep the global economy functioning. Whether it be oil, grain, gas, new cars, or flatpack furniture, shipping is the spine of the global economy.
Our technology supports different companies throughout their commerce journeys and to achieve their individual goals. Despite being a facilitator of online commerce, we felt an affinity to the idea of being a “launching point” for different businesses - much in the same way a jetty can be for a ship. That is how the Jetti name was born.
This shipping theme is something that we were adamant had to remain in terms of the criteria for our new name. After a lengthy deliberation process with several strong candidates, we arrived at Onport.
We felt this new name encapsulates our growth and maturity as a company - we have grown from managing ships via a jetty to supporting larger vessels via our port. Aside from the shipping theme, we felt the term “port” conveyed our ability to seamlessly attach ourselves and integrate into our customer's businesses in a natural way that only augments and enhances their value offering.
Setting Sail For The Future
We feel both meanings perfectly illustrate our past, present and future ambitions to help sculpt the marketplaces of the future and to help our customers soar to new heights. While we must admit, it will take some time on our end to get used to the new change and that we will miss the Jetti name, we are excited at the prospects afforded to us by our new title and the opportunities that await us. Our acquisition by FARFETCH will only reinforce our value proposition to our customers.
The Jetti name served us well and helped us become an established brand in the world of dropshipping and online marketplaces and now it feels natural to evolve into a new name which better describes our current company stage.
Despite our name having changed, our dedication to elevating and transforming the marketplace model remains as solid as ever. We as a company are excited at the prospect of what lies ahead and how we can continue to grow. Together with FARFETCH, we look forward to a bright future for us, our customers and our partners.
Onport - New Name, Same Reliable Partner
Onport enables product marketplaces to streamline and automate their inventory, orders, payments, and shipping operations. Designed to be flexible, Onport can accommodate both those seeking an out-the-box solution and through our API, those who require a more bespoke implementation. From growing SMEs to well-established Enterprises, our adaptive infrastructure is positioned to be a reliable partner for growth.
With Onport, our customers can scale with confidence, streamline their daily operations as well as create truly unique marketplaces. Onport is trusted by brands such as Ad Hoc Atelier and Naduvi as well as over 200+ other companies.