In an era where independent retailers face growing challenges, Faire, a global online wholesale marketplace, has emerged as a transformative force. Led in the UK by Charlotte Broadbent, Faire is redefining the traditional wholesale model by providing small businesses with tools, access, and a platform previously reserved for large corporations. Broadbent’s journey to her current role is a study in adaptability and ambition, reflecting a career that bridges private equity, retail, and now, the tech-driven world of wholesale.
“I actually started my career in private equity,” Broadbent shares. While her trajectory has been anything but linear, she describes it as “a particularly wiggly journey”. Having studied geography at university, she was drawn to private equity for its broad exposure to industries and its potential to train her in business fundamentals.
In her early years, Broadbent honed her skills working on deals in sectors such as renewable energy and hospitality before discovering her passion for consumer businesses. “Consumer businesses are really about hearts as well as minds,” she explains. “Compelling someone to buy something and, more importantly, to come back and buy something again—I found [that] super interesting.”
“Retailers no longer want to buy seasonally [or] do big cash outlays twice a year…It presents a big risk to them if they don’t ultimately sell through that stock.”
Her private equity background provided invaluable experience, particularly through close collaboration with “best-in-class management teams” across various industries. Broadbent reflects, “I got the opportunity to work very closely with CEOs, COOs, or regional managers that we put into businesses. Getting that opportunity to work with them first-hand was an incredible privilege.”
But after a decade of advising companies from the sidelines, Broadbent felt the urge to roll up her sleeves and take on a more hands-on role. “I felt a little bit embarrassed,” she admits, “that I’d had all this experience on the investor side…but I hadn’t really rolled up my sleeves and done it myself.” In February 2020, she joined a fine jewellery business as CEO – a leap into the operational world that proved both challenging and illuminating.
Lessons from the front lines of retail
The timing of Broadbent’s transition was far from ideal. “I joined the management team of a retail business…in February 2020, which was not a particularly fortuitous time,” she notes wryly. The pandemic introduced unprecedented hurdles, particularly for a business reliant on both brick-and-mortar retail and wholesale relationships.
“We had shops across Germany, the US, and Spain, and probably 250-odd wholesale relationships on top of that,” she recalls. Navigating a retail landscape thrown into chaos by COVID-19 taught her resilience and adaptability. “You always learn the most when things are hitting the fan,” Broadbent observes.
The experience also deepened her understanding of wholesale dynamics. As she explains, wholesale relies on personal relationships: “Your customer is a retailer that then sells…so it’s a different type of relationship. They’re going to be buying much more deeply into your products, and you need to help them tell your brand story for you.”
Despite its lower margins, Broadbent came to appreciate wholesale as a profitable and scalable model for growth when executed effectively. This insight would later inform her work at Faire, where she has been UK Country Lead since early 2022.
Bringing wholesale into the digital age
Faire’s mission is to revolutionise wholesale by addressing inefficiencies in the traditional model. The founders, former Square employees, recognized the outdated nature of the industry, which relied heavily on trade shows, agents, and seasonal buying cycles. Broadbent explains: “Retailers no longer want to buy seasonally [or] do big cash outlays twice a year…It presents a big risk to them if they don’t ultimately sell through that stock.”
Faire addresses this challenge by making the wholesale buying process accessible 24/7 through its online platform. Independent brands create storefronts that showcase their products, while retailers gain access to millions of items from around the world. “One of the most exciting things is the distribution it gives brands that they otherwise might not have had,” Broadbent shares.
The marketplace also simplifies logistics, payments, and order management, leveraging Faire’s scale to reduce costs for brands and retailers alike. According to Broadbent, the platform has facilitated six million connections between brands and retailers globally – a testament to its growing influence.
Supporting independent retailers
Faire’s commitment to independent retailers goes beyond convenience. The company provides 60-day payment terms, allowing retailers to sell through stock before paying for it – a lifeline for small businesses often overlooked by traditional banks.
“Values-based shopping is a big trend that I’m hearing from our retailers, and it’s because the consumer’s demanding it from them.”
Broadbent acknowledges the unique pressures faced by independent retailers, particularly in a challenging economic climate. “Shop owners are back behind the counters in their stores…they’re time-poor,” she notes. “The process of sourcing stock, financing it, [and] merchandising it is a real challenge.”
One of Faire’s most popular features is the ‘Not on Amazon’ filter, which highlights products unavailable on the retail giant’s platform. For many independent retailers, this exclusivity is critical. “They need to provide their customers with a completely unique experience,” Broadbent explains, citing an example of a retailer who dropped a brand after it became widely available through national chains. “To be independent and successful, they have to maintain their independence.”
Faire also caters to values-driven shopping trends, offering filters for eco-friendly, women-owned, and other ethically sourced products. As Broadbent puts it: “Values-based shopping is a big trend that I’m hearing from our retailers, and it’s because the consumer’s demanding it from them.”
A changing landscape
Broadbent sees Faire as part of a broader “digital revolution” in wholesale. Other players, such as Shopify, have also contributed to this shift, democratising tools once reserved for large businesses. “Bringing efficiency to the wholesale market is part of what’s made it sexy again,” she says, referencing a resurgence of interest in wholesale as direct-to-consumer brands grapple with rising customer acquisition costs.
But technology alone isn’t enough. Broadbent emphasizses the importance of staying attuned to customer needs, a challenge she has embraced in her role. “We need to make sure that we are constantly in touch with [our customers] and really honing our priorities to make sure they line up with their priorities.”
Her optimism about the future of retail is cautious but genuine. While acknowledging the economic pressures on consumers and businesses alike, Broadbent points to the resilience of independent retailers and the opportunities for growth. “There’s been a real bifurcation between winners and losers,” she notes. “Great operators are being rewarded by their customers.”
“High streets in the UK are gap-toothed…but physical retail is here to stay.”
The road ahead
As Faire celebrates three years in Europe, Broadbent is focused on expanding the platform’s reach and impact. Initiatives like the ‘Open with Faire’ program aim to support new retail entrepreneurs by offering generous credit terms for their first stock purchases. “It takes an entrepreneur with some guts and some spirit to take that leap,” she says. “Faire can be part of helping in that journey.”
Looking ahead, Broadbent believes the future of the high street will depend on a combination of innovation, community engagement, and government support. “High streets in the UK are gap-toothed…but physical retail is here to stay,” she asserts. “Independent retailers are becoming incredibly important pillars of their community.”