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Torrid Becomes First Plus-Size Brand to Launch Resale Program with thredUP’s Resale-as-a-ServiceⓇ
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Rhea-AI Summary
Torrid Holdings Inc. (CURV) has launched a resale program in collaboration with thredUP (TDUP), making it the first plus-size brand to utilize thredUP’s Resale-as-a-Service (RaaS) platform. Beginning December 15, 2022, U.S. customers can send apparel and accessories from any brand to thredUP and receive Torrid shopping credits for sold items. This initiative aligns with Torrid's goals for sustainability and enhancing customer value. ThredUP's CEO noted that this program caters to a growing demand for secondhand shopping while promoting sustainability in fashion.
Positive
First plus-size brand to leverage thredUP’s Resale-as-a-Service platform.
Supports sustainability initiatives by extending the lifetime of clothing.
Provides customers the opportunity to earn shopping credits, enhancing customer engagement.
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CITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--
Torrid Holdings Inc. (“Torrid” or the “Company”) (NYSE: CURV), a direct-to-consumer apparel, intimates, and accessories brand in North America for women sizes 10 to 30, today announced a resale program with thredUP (NASDAQ: TDUP), one of the largest online resale platforms for women's and kids' apparel, shoes, and accessories. Torrid is the first plus-size brand to leverage thredUP’s Resale-as-a-ServiceⓇ (RaaSⓇ) for its Clean Out program. thredUP’s RaaS enables brands to plug into its proprietary operating platform and deliver scalable, secondhand shopping experiences to its customers.
“We’re pleased to offer our customers an exciting and convenient opportunity to earn value by extending the lifetime of their clothes,” said Lisa Harper, Chief Executive Officer at Torrid. “Working with thredUP is a natural step in our mission to become a more impactful brand, as we leverage its RaaS platform to contribute to a more sustainable future for fashion.”
Starting December 15, 2022, Torrid customers in the United States can generate a prepaid shipping label from torrid.thredup.com, fill any shippable box with apparel, shoes, and accessories from any brand, and ship it to thredUP for free. Sellers will receive a Torrid shopping credit for items sold. For a limited time, Torrid will provide an additional bonus to encourage customers to participate. The shopping credit can be used to purchase any items in-store or online at www.Torrid.com.
“As the first plus-sized brand to leverage our RaaS platform, Torrid is a leader in its industry and making secondhand available to even more customers,” said James Reinhart, CEO of thredUP. “Torrid’s resale program offers a tailored and unique experience that provides consumers with a responsible way to give their preloved clothing a second or even third life.”
About Torrid
Torrid is a direct-to-consumer brand of apparel, intimates and accessories in North America targeting the 25- to 40-year old woman who is curvy and wears sizes 10 to 30. Torrid is focused on fit and offers high quality products across a broad assortment that includes tops, bottoms, denim, dresses, intimates, activewear, footwear and accessories.
About thredUP
thredUP is transforming resale with technology and a mission to inspire a new generation of consumers to think secondhand first. By making it easy to buy and sell secondhand, thredUP has become one of the world's largest online resale platforms for women's and kids' apparel, shoes and accessories. Sellers love thredUP because we make it easy to clean out their closets and unlock value for themselves or for the charity of their choice while doing good for the planet. Buyers love shopping value, premium and luxury brands all in one place, at up to 90% off estimated retail price. Our proprietary operating platform is the foundation for our managed marketplace and consists of distributed processing infrastructure, proprietary software and systems and data science expertise. With thredUP's Resale-as-a-Service, some of the world's leading brands and retailers are leveraging our platform to deliver customizable, scalable resale experiences to their customers. thredUP has processed over 137 million unique secondhand items from 55,000 brands across 100 categories. By extending the life cycle of clothing, thredUP is changing the way consumers shop and ushering in a more sustainable future for the fashion industry.
