CTFC | Marketplace Applications (round 1)
What is the CTFC Marketplace
The CTFC online marketplace is a one-stop solution for Fashion Designers needing to retail their products online in a collaborative environment. The website mimics the aesthetic of a traditional online retailer without the shortcoming and exuberant costs that erode into the vendor’s profits. The platform will allow the designer to have control over their logistics, distribution, price points, lead times needed for them to cope with consumer demand. Vendors will be able to upload their own product inventory to the site and CTFC will establish a safe payment gateway between Buyer & Seller. The CTFC intends to curate designers based on the quality of products and business acumen rather than what is trending in the market.
Please note: there is limited space available for Round 1
Minimum Business Requirements
- Business must be registered as a CTFC Designer Member
- The Business must operate/manufacture in South Africa
- The Business must have a valid Tax Clearance Certificate
- Minimum 3 Years in operation or 5 Years’ industry experience for new owners.
- Minimum BBBEE Score Level 4 (An Exempted Micro Enterprise (EME) with an annual turnover of less than R10 million.)
- Minimum 3 Employees or employs a CMT
- Minimum 1 sales outlet (online / boutique / own store)
- Minimum R60 000 Sales Per Year
- Must have a minimum of 2 updated and working Social media platforms (preferably Facebook / Instagram / Twitter)
- Must have a reliable courier company
Minimum Product Requirements
- Must have styles in stock
- Must be able to guarantee product quality
- Must accept returns
- Minimum 5 styles available
- Minimum 3 units per style
- Minimum 2 professional photos per style (at the discretion of the CTFC)
- Must have Quality Packaging
Round 1 Application Close in:
CTFC’s online marketplace is an eCommerce platform to connect fashion vendors with consumers. The platform is secure and user-friendly to conduct transactions online and utilizes the dropshipping method to offer vendors a cost-effective process to expand their online offerings.
What is the CTFC Marketplace
Cape Town Fashion Closet is a multi-vendor e-commerce collaborative platform built for Small to Medium SMME Designers to retail products. The CTFC has adopted the Dropshipping model which is a fulfillment model that allows consumers to purchase products individually from a designer/vendor and ship them directly to the consumer. The process allows designers to earn profit without investing in an online store and marketing.
How it works
CTFC as a service provider will offer designers/vendors, through the platform, an opportunity to list their merchandise for sale. Then, once CTFC receives an order, we forward it to the designer for fulfillment. The design will ship the product directly to the consumer.
Advantages of the Marketplace
- Less capital required
- Easy to get started
- Easier to test new products
- Low overheads
- Easier to scale
- Registered as a seller on the marketplace.
- List your products on the Seller Portal
- Start Selling
- Order fulfillment and Ship
- Get Paid
- Vendors will be in full control of their pricing.
- The designer can easily manage their pricing via the Seller Portal account.
- Products must retail at the same price or lower across the board (i.e. must retail at the same price or lower than at a boutique, online store, or own store.)
- Sales prices are at the designer’s deaccession but will be asked to participate during sales periods.
Commission and Payment
CTFC offers designers the opportunity to price and list their products on the marketplace platform. CTFC will record all sales made on the marketplace however it is the responsibility for the vendor to keep records of sales, commission, returns, refunds. All products sold on the platform will be subject to a 30% commission paid to the CTFC. The commission fee will be deducted prior to reconciling payments with vendors. Vendors can expect to receive payments 30 days after a sale (this excludes refunds and outstanding disputes relating to returns). The commission pays for administration fees, advertising costs, new web development, marketing, and PR in order to drive new consumers to the website.
Return and Refund
CTFC offers its consumers a basic return policy. Consumers have the right to return any purchased items by submitting a complaint within 7 days after receiving the delivery of their purchase. The consumers must provide full reasons for the alleged product defect including how the product was utilized during the period that it was in the consumer’s possession. A full refund is offered to consumers who are not at fault for any wrongdoing.
Vendors are required to adhere to the rules of the same return policy. The dispute between the designers and consumers will be adjudicated by CTFC.
The designer is encouraged to take photographic evidence
Packaging and Shipping
CTFC does not pay for packaging and/or shipping. Vendors are responsible for packaging their products, having them insured and shipping them to the consumer. CTFC does not pay for insurance.
CTFC has the right to remove any designer, product, or company that does not adhere to its guidelines and policies in line with the Consumer Rights Commission.
The CTFC is a non-profit company funded by public funds. CTFC conducts due diligence to all the companies using its platform, and therefore in order to guarantee the best customer service all companies for through an application process. Your information will be required to be updated on an annual basis.