Monday, April 5, 2010

Overstock.com: $50M To Artisans

Salt Lake City-based ecommerce provider Overstock.com said today that it has cross $50M in payments to artisans which provide the firm's Worldstock unit with handcrafted products from developing nations and rural parts of the U.S. According to Overstock, its Worldstock unit helps provide artisans in the poorest regions of the world with ways to sell their products to customers, and has now paid artisans more than $50M for their work. The unit stocks products from Bali, China, Colombia, Ghana, Guatemala, India, Indonesia, Israel, Mexico, Morocco, Nepal, Pakistan, Peru, Tibet, Thailand, Tunisia, the United States, and Vietnam. The firm said it returns 60 to 70 percent of sales to its suppliers.