Crocs and thredUP Launch Clean Out Program, Giving Preloved Items a Second Life

Rhea-AI Summary

Crocs, in partnership with thredUP, has launched a new Clean Out program aimed at promoting sustainability in footwear. The initiative allows customers to send used Crocs and other apparel to thredUP, where items are inspected and listed for resale. This program supports Crocs' goal to achieve net zero carbon emissions by 2030. Customers can generate prepaid shipping labels and receive shopping credits for their contributions. This partnership aligns with Crocs' broader sustainability efforts, including responsible resource use and waste reduction.

Positive

• Launch of Clean Out program enhances Crocs' sustainability initiatives.
• Partnership with thredUP taps into growing resale market, potentially increasing customer engagement.
• Encourages brand loyalty by offering credits for preloved items.

Negative

• Dependence on thredUP's platform introduces potential risk if partnership underperforms.
• Quality inspection process may exclude some items, limiting customer satisfaction.

OAKLAND, Calif. and BROOMFIELD, Colo., Nov. 4, 2021 /PRNewswire/ -- Crocs, Inc. (NASDAQ: CROX), a global leader in innovative casual footwear, and thredUP (NASDAQ: TDUP), one of the largest online resale platforms for women's and kids' apparel, shoes, and accessories, today announced a new Clean Out program enabled by thredUP's Resale-as-a-Service^Ⓡ (RaaS^Ⓡ) platform. Designed to give preloved items a second life, the program is part of Crocs' commitment to become a net zero company by 2030. Crocs joins some of the world's leading brands and retailers who deliver customized, scalable resale experiences to their customers through thredUP's RaaS, including adidas, GAP, and Madewell.

Crocs and thredUP today announced a new Clean Out program enabled by thredUP's Resale-as-a-ServiceⓇ (RaaSⓇ) platform.

"Crocs shoes are incredibly durable and perfectly built for a second life, so encouraging customers to consider reuse is extremely important to us," said Michelle Poole, Brand President at Crocs. "Crocs and thredUP are both committed to keeping products in use and out of landfills, and we're thrilled to partner with thredUP to reduce our environmental footprint and bring us one step closer to achieving our net zero goal by taking action to create a more comfortable world."

"Crocs has put tremendous emphasis around reducing environmental impact and waste, and thredUP is humbled to be part of their sustainability journey," said Pooja Sethi, Senior Vice President and General Manager of RaaS^Ⓡ at thredUP. "By enabling Crocs customers to give preloved items a second life through thredUP's Resale-as-a-Service, we're promoting reuse and inching closer to a more circular future for fashion."

Starting Nov. 4, 2021, Crocs customers in the United States can generate a prepaid shipping label from www.thredup.com/crocs, fill any shippable box with apparel, shoes, and accessories from any brand, and ship it to thredUP for free. While it's encouraged, it is not required that customers donate Crocs™ shoes to participate in the Clean Out program. Once the items are received, they must pass a rigorous quality inspection before they are listed on thredup.com, after which sellers receive a Crocs shopping credit. For a limited time, Crocs 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.crocs.com. Crocs' resale experience is powered by thredUP's RaaS^Ⓡ technology, software, and logistics. Read more about thredUP's RaaS^Ⓡ here.

The partnership furthers Crocs' sustainability journey, which aims to address the entire value chain and includes investments in sustainable ingredients, packaging, resource use and product afterlife solutions. Crocs already donates a significant number of unsellable Crocs™ shoes to those in need each year, and both brands aim to keep items in use and out of landfills. This program is the first-of-a-kind from Crocs and directly supports the brand's strategic focus on product afterlife solutions, a key pillar of its roadmap to achieve net zero by 2030. To learn more about Crocs' sustainability journey, please visit www.crocs.com/crocs-purpose.

About Crocs, Inc.

Crocs, Inc. (Nasdaq: CROX) is a world leader in innovative casual footwear, combining comfort and style with a value that consumers know and love. The vast majority of shoes within Crocs' collection contain Croslite™ material, a proprietary, molded footwear technology, delivering extraordinary comfort with each step. In 2021, Crocs declares that expressing yourself and being comfortable are not mutually exclusive. To learn more about Crocs or our global Come As You Are™ campaign, please visit www.crocs.com or follow @Crocs on Facebook, Instagram and Twitter.

Investor Contact
Cori Lin, Crocs, Inc.
(303) 848-5053
clin@crocs.com 

Media Contact
Ryan Roccaforte, Crocs, Inc.
(303) 848-7885
publicrelations@crocs.com 

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 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. In 2018, we extended our platform with thredUP's Resale-As-A-Service (RaaS^Ⓡ), which facilitates modern resale for a number of the world's leading brands and retailers. thredUP has processed over 125 million unique secondhand items from 35,000 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.

Investor Contact
Lauren Frasch
thredUP
ir@thredup.com 

Media Contact
Christina Schultz
thredUP
media@thredup.com

Forward Looking Statements

This release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "predict" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions. Except as required by law, thredUP has no obligation to update any of these forward-looking statements to conform these statements to actual results or revised expectations.

 

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SOURCE thredUP

FAQ

What is the Clean Out program launched by Crocs and thredUP?

The Clean Out program allows Crocs customers to send used items to thredUP for resale, promoting sustainability.

When did Crocs and thredUP announce their partnership?

The partnership was announced on November 4, 2021.

How can customers participate in the Clean Out program?

Customers in the U.S. can generate a prepaid shipping label and send their used items to thredUP for free.

What is Crocs' sustainability goal for 2030?

Crocs aims to achieve net zero carbon emissions by 2030.

What benefits do customers receive by participating in the Clean Out program?

Participants receive shopping credits to use on Crocs products.