NEW YORK, April 27, 2015 /PRNewswire/ -- Online retailer Choxi.com, formerly nomorerack.com, has launched a new destination for shoppers to find the lowest available discount prices for home goods, fashion, electronics, and more.
Choxi will build on the momentum of nomorerack.com, which grew to more than $340 million in annual revenue in its first four years of operations. Choxi's rebranding campaign reflects the Company's commitment to providing savvy shoppers with an enjoyable shopping experience and extraordinary bargains on high-quality merchandise.
"This rebranding effort marks an important milestone in the Company's development," said Dee Agarwal, CEO and co-founder of Choxi.com. "We are launching Choxi to take our vision for high-quality, low-cost online retailing to the next level by offering our shoppers a comprehensive assortment of branded and unbranded items at the lowest possible prices on the Internet."
The name Choxi is derived from "chock full" and "choice," to represent the site's extensive product selection and curation, and "OX," to symbolize the love consumers have for great deals. As part of the rebranding, Choxi sought to create a short, memorable abstract word, and use an energetic color – red – that pops up, with the "OX" in a distinct font.
Choxi has developed unique algorithms that automatically keep hot sellers near the top of the site's offerings, while downplaying other items until they build traction with members. The Company works directly with manufacturers of leading brands to strategically promote products that can be quickly scaled up to meet consumer demand. Choxi also sells surplus items at steep discounts, making for some of the best member values on the site.
In an effort to shorten wait time for customers after purchase, Choxi partnered with Shipworks & Shipstation to streamline order management and increase on-time deliveries. Choxi has also partnered with Skuvault, a cloud-based warehouse management system, to improve inventory management for greater customer satisfaction.
Choxi, formerly nomorerack.com, is the online shopping destination for quality, on-trend, branded and unbranded, in-demand goods at prices ranging from 50%-80% off retail. Choxi's efficient business model cuts out the middleman to allow delivery of great products at the lowest possible cost to the consumer. With 24/7 online customer service and deeply discounted prices, Choxi aims to be the top destination for online shoppers. Founded in 2010, the Company received $40M in Series B Round funding in October of 2013 and $12M in Series A funding in November of 2012. The Company is headquartered in New York. For more information visit www.Choxi.com.