What is Verishop? Verishop Review

About Verishop

Verishop was founded by former Snapchat chief strategy officer Imran Khan and his wife Cate Khan. In November 2018, it was revealed that Imran Khan, the former strategic executive of Snapchat who resigned in September, was developing a website. And just a few months later, this e-commerce platform appeared-Verishop, which targets the market where some emerging brands are dissatisfied with websites that have counterfeit products or damage brand integrity. Before joining Snapchat, Khan worked in the banking industry for 10 years, and his wife Cate Khan worked at Amazon and Quidsi, owned by cosmetics giant Avon.

Main Products

Verishop aims to become a high-end online department store that, in addition to its main fashion categories, also covers beauty and furniture products.

Business Model

Verishop purchases inventory directly from brands, eliminates third-party sellers, absorbs traditional brands, independent design brands and Internet celebrity brands, and provides consumers with free one-day delivery, free returns, 24-hour customer service and other services. In addition, Verishop will also incubate its own brands, such as Ghost Democracy, which sells skin creams and face creams, women's clothing brand Billie the Label, and casual clothing brand Lett.

Signed Brands

In its early days, Verishop has signed contracts with about 160 brands, including clothing manufacturers Levi's, AllSaints, Diane Von Furstenberg (DVF) and Citizens of Humanity; home goods retailer Boll & Branch; cosmetics company Lily Lolo and skin care brand Kora Organics.

Tastemakers Section

Another unique feature of Verishop is that it has a section called Tastemakers, where influential social media influencers can pick their favorite products on Verishop and promote them to their fans. It has signed contracts with many well-known celebrities, such as YouTube celebrity Tiffany Ma, who has more than 1.8 million fans, and singer and beauty blogger Jess Conte, who has 2.1 million fans on Instagram. Each celebrity has his or her own separate page on Verishop, where they can showcase their favorite products and briefly describe why they chose them.

develop

In December 2019, Verishop announced that it would cooperate with shopping mall operator Unibail-Rodamco-Westfield to introduce online brands incubated by Verishop into physical stores and present them to consumers in the form of 14 pop-up stores or physical stores in Westfield shopping malls in the United States. When talking about this cooperation with Westfield, Imran Khan, founder of Verishop, said, "We like the curatorial activities they hold in various places and believe that the brands we incubate are very consistent with the style of their shopping malls."