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ThredUp Inc. (NASDAQ: TDUP) is a pioneering force in the apparel resale industry, providing an innovative online marketplace for women's and kids' like-new clothing, shoes, and accessories. Established in 2009 by James Reinhart, Chris Homer, and Oliver Lubin, ThredUp has revolutionized the way consumers perceive and purchase secondhand items by encouraging a 'secondhand first' mentality.
Underpinned by a mission to create a sustainable future in fashion, ThredUp offers over 25,000 brands, from everyday names like Gap to high-end luxury such as Gucci, at discounts of up to 90% off retail prices. The company is known for its Clean Out Bag, a convenient solution for individuals to sell their unwanted clothing and accessories. This service has streamlined the resale process and empowered consumers to contribute to an eco-friendly lifestyle.
ThredUp's operational excellence and cutting-edge technology have cemented its status as one of the world's largest online resale platforms. The company's proprietary operating platform includes a distributed processing infrastructure, advanced software, and robust data science capabilities. This ensures a seamless and scalable experience for both buyers and sellers.
Recently, ThredUp released its second annual Impact Report, highlighting its commitment to environmental, social, and governance (ESG) initiatives. The report, guided by the Global Reporting Initiative (GRI) and Sustainable Accounting Standards Board (SASB) standards, outlines ThredUp's ESG strategy and accomplishments throughout 2022. The company is dedicated to transparency and continual improvement in its business practices, with a strong focus on sustainability.
In addition to its marketplace, ThredUp offers Resale-as-a-Service® (RaaS®), enabling leading fashion brands and retailers to integrate customizable resale experiences into their own offerings. Through partnerships with brands like Rebag, ThredUp is expanding its reach and enhancing its market presence, providing consumers with flexible, scalable, and sustainable shopping options.
With over 172 million unique secondhand items processed from 55,000 brands across 100 categories, ThredUp is not just a marketplace but a movement towards more responsible fashion consumption. The company's efforts in driving circular fashion and extending the lifecycle of clothing have not only garnered consumer appreciation but have also positioned ThredUp as a key player in the $30 billion apparel resale industry.
Headquartered in Oakland, California, ThredUp continues to push the boundaries of the resale market, with a passionate team committed to innovation and sustainability. For more information, visit thredup.com/jobs.
ThredUp Inc. (Nasdaq: TDUP), a leading online resale platform, announced the upcoming release of its financial results for Q1 2023, set for May 9, 2023, after U.S. markets close. A conference call and live webcast will follow at 1:30 p.m. PT / 4:30 p.m. ET. ThredUp focuses on secondhand apparel, shoes, and accessories, having processed over 137 million unique items from 55,000 brands. The company aims to promote sustainable fashion by enabling easy buying and selling of secondhand goods. It operates a proprietary platform supporting a managed marketplace and Resale-as-a-Service for brands, enhancing their resale capabilities. Investors can access earnings materials on ThredUp's investor relations website.
thredUP (NASDAQ: TDUP) has released its 2023 Resale Report, revealing that over 50% of U.S. consumers purchased secondhand apparel in 2022. The secondhand apparel market is projected to reach $70 billion in the U.S. by 2027, with online resale growing at an average of 21% annually. Key findings indicate that 63% of Gen Z and Millennials believe secondhand shopping can reduce their environmental impact. Additionally, the report highlights a significant rise in retailers adopting resale practices, with 88 brands launching dedicated resale programs in 2022. The report emphasizes the positive growth trajectory of the secondhand market amidst economic uncertainty.
ThredUp Inc. (TDUP) reported a fourth quarter revenue of $71.3 million, a 2% decline from the previous year. Gross profit dropped 7% year-over-year to $45.0 million, with a gross margin of 63.1%. Despite these declines, the full year's revenue rose 15% to $288.4 million, with gross profit increasing 8%. The company noted 1.7 million active buyers in Q4, down 2%, and total orders at 1.5 million, down 8%. For 2023, ThredUp expects revenue between $310 million to $320 million and aims for improved gross margins. The Resale-as-a-Service program now includes 42 brand clients, expanding its market presence.
ThredUp Inc. (Nasdaq: TDUP), a leading online resale platform for apparel, shoes, and accessories, announced participation in the Morgan Stanley Technology, Media and Telecom Conference on March 9, 2023, from 11:55 AM to 12:25 PM PST. CEO James Reinhart and CFO Sean Sobers will represent the company. The conference will be webcast live on thredUP’s investor website, with a replay available for 30 days post-event. ThredUP aims to transform resale by encouraging consumers to embrace secondhand shopping, offering premium and luxury brands at discounts of up to 90%. The company has processed over 137 million secondhand items from 55,000 brands, promoting sustainability in fashion.
ThredUp Inc. (Nasdaq: TDUP) will announce its fourth-quarter and full-year financial results for 2022 on March 6, 2023, after U.S. markets close. A conference call and live webcast will follow the release at 1:30 p.m. PT / 4:30 p.m. ET. ThredUp is a leading online resale platform specializing in women's and kids' apparel, shoes, and accessories, having processed over 137 million unique secondhand items from 55,000 brands. The company focuses on sustainability in fashion and offers significant savings, with buyers enjoying discounts of up to 90% off retail prices.
On January 31, 2023, Francesca's Acquisition announced the launch of "forever francesca's®," a 360-resale program powered by thredUP (NASDAQ: TDUP). This platform enables customers to shop secondhand apparel, shoes, and accessories and allows them to resell pre-loved items for shopping credit. Customers can shop and earn credit through a simple process involving shipping their used items to thredUP. The initiative promotes sustainability in fashion, addressing the significant issue of clothing waste, with statistics showing that 36 billion clothing items are discarded in the U.S. annually. The program targets Millennial and Gen-Z consumers, aligning with their eco-conscious values.
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.
The AZEK Company (NYSE: AZEK) and thredUP (NASDAQ: TDUP) have announced a partnership to recycle thredUP’s post-consumer plastic Clean Out Bags into new TimberTech composite decking. This initiative supports both companies' ESG goals and aims to recycle one billion pounds of material annually by 2026. The partnership highlights AZEK's commitment to sustainability, having recycled nearly 1.7 billion pounds of waste since 2019. The new decking products will be made from approximately 85% recycled material, promoting environmental responsibility in outdoor living products.
ThredUp Inc. (TDUP) announced participation in the Barclays Global Technology, Media and Telecommunications Conference on December 8, 2022. CEO James Reinhart and CFO Sean Sobers will present from 3:05 PM to 3:35 PM PST. The presentation will be available via live webcast on ThredUp's investor website, with a replay accessible for 30 days post-event.
ThredUp, a leading online resale platform for women's and kids' apparel, promotes sustainability by making secondhand shopping accessible and affordable, processing over 137 million items from 55,000 brands.
ThredUp Inc. (Nasdaq: TDUP) reported its Q3 2022 financial results, with revenue of $67.9 million, a 7% increase year-over-year. However, gross profit decreased by 3% to $44.5 million, resulting in a gross margin of 65.5%. The net loss reached $23.7 million, worsening from a $14.7 million loss in Q3 2021. Active buyers rose by 18% to 1.7 million, and orders rose 24% to 1.6 million. The company’s financial outlook anticipates Q4 revenue between $62 million and $64 million.
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