As a consequence, the market became less structured and organised, price transparency was lost amongst other “overall” industry data, and hide and leather professionals were left without reliable and timely benchmarking information of prices and inventories.

At the same time, the industry has become ever more competitive and increasingly global, which means that many regional suppliers can no longer generate sufficient revenues and margins by producing solely for the needs of regional buyers.

These long-term tendencies have recently been compounded by Covid-19 and the ensuing operating limitations, which led to considerable logistical disruptions, cancelations of trade shows and overall reduced communication between market participants.

The Hidexe online b2b hide & leather marketplace
An international team of hide and leather professionals has responded to these challenges with the creation of a real-time platform, purposely designed and written for the hides, skins and leather industry, a platform that facilitates independent business-to-business sales of hides, skins, leather and by-products worldwide. This new platform, called “Hidexe” (short for Hide Exchange), is expected to be launched in the coming weeks.
Based on the initial feedback from selected professionals in the industry, this intuitive, online platform can easily be adopted and used by seasoned traders as well as new users for their immediate benefit.

Pre-commercial pilot
While Hidexe has more projects in its pipeline to assist the hide & leather industry to evolve in this ever more challenging and competitive environment, the initial module (to be presented shortly) will focus on enabling industry participants to offer raw materials, wet blue and splits in trading units of one or multiple loads (approximately 20 tons per load) in an online auction environment. The system will also assist market participants by providing an efficient and automated documentation tool. Our platform will allow sellers to obtain the highest possible market price, while on the other hand providing buyers with the relevant and timely information about market prices and inventory.

A step-by-step summary of a typical auction on Hidexe:

1. Seller defines his product(s) using the standard industry definitions that have already been incorporated into the trading platform.
2. Once a product is added to the system, it can then be offered to the market via an online auction, where the seller only needs to define his product quantity, starting auction price, buy-now price and preferred auction duration.
3. During the pilot testing period, the seller will only be able to solicit interest for his product from his existing customers by sending them system-generated auction invitation emails.
4. Each auction will only be visible to invited customers and only invited customers in this phase are allowed to place formal bids (once they registered).
5. The highest bid will automatically be declared the “winner”. Respective buyers will not know the identities of other buyers but will have full access to the bidding history.
6. Once the initial – free trial – period expires, both buyers and sellers will be charged a modest Hidexe transaction fee for each auction to sustain the maintenance and further development of this platform.
7. It is envisioned that once product liquidity levels have reached a sufficient level, Hidexe platform will allow both buyers and sellers to bid on – and offer – their products to the entire market, which will allow them to reach new untapped markets and establish new global trading partnerships.
8. Since Hidexe understands that many industry participants are simultaneously both buyers and sellers of products, this platform is designed to provide each trader with easy access to individual information dashboards summarising their respective product portfolios, provide real-time information about the auction results and assist them in the post-auction period with automated tools; it not only generates standardised ICHSLTA Contracts No 6, but also enables participants on both the buy and the sell side to monitor contract implementation with the assistance of system-generated push messages.

If you would like to discover and test the benefits of Hidexe’s new trading platform, please contact us at beta@hidexe.com.

*This article is an advertorial feature provided by Hidexe.