Marketparts announced a new platform and model for its spare parts marketplace for cars, trucks and 2-wheelers, unveiled during its Elite Customer Conference in Lyon, France, in February. More than 15,000 registered distributors in 125 countries can now access nearly 26 million offers on 10 million products, the company says.
To support its growth, Marketparts announced it completed a new funding round and is opening two new subsidiaries in the United States and India.
Launched in 2020, and connecting buyers (parts wholesalers) with sellers (distributors and equipment manufacturers), Marketparts says it is drawing on the success of this initial stage as it enters a new phase of development with a new business model: a fully transactional marketplace.
“We surveyed our most representative clients to better understand their needs,” says Christophe Riberolle, Marketparts co-founder and CEO. “They all said that to take things further, we needed to go from an intermediary model to a distribution model, providing services such as logistics and payment terms. This is how we decided to change our business model.”
Marketparts hosted approximately 15 Tier 1 parts manufacturers on February 20-21, 2023 during its first Elite Customer Conference. At this event, Marketparts informed these strategic partners about the evolution of its model, as well as the new services now available to both vendors and buyers.
As a condition to access the site, Marketparts is now offering its vendors (distributors or parts manufacturers) the ability to handle all transactions with buyers, who are all parts distributors.
To ensure high-quality service, Marketplace can directly connect to seller, parts manufacturer and distributor stock to highlight available parts offers in real time. This is standard in many markets, but still rare in the international aftermarket industry, according to the company.
Marketparts says it is accelerating its global expansion by opening two subsidiaries in March and April 2023 in the United States (Chicago) and India (Chennai).
