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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) is set to announce its preliminary financial results for Q4 and full year 2021 on March 7, 2022, following U.S. market closure. A conference call will be held at 1:30 p.m. PT / 4:30 p.m. ET, accessible via designated phone lines. ThredUp stands as a leading online resale platform for women's and kids' apparel, boasting over 125 million processed secondhand items. The company's mission focuses on promoting sustainable fashion by enhancing secondhand shopping experiences through technology and data science.
thredUP (NASDAQ: TDUP) announced the appointment of Coretha Rushing to its Board of Directors, bringing over 35 years of HR experience from companies like Equifax and Coca-Cola. Rushing's focus will be on employee health, wellness, and diversity initiatives as thredUP grows in the resale market. CEO James Reinhart emphasizes the importance of people in the company's strategy, especially in the evolving employee-employer landscape. Rushing's leadership experience in high-growth companies positions her as a key asset for enhancing workplace culture and retention.
ThredUp Inc. (Nasdaq: TDUP), a major resale platform for women's and children's apparel, has announced CEO James Reinhart and CFO Sean Sobers will speak at the Needham Growth Conference on January 12, 2022, from 10:15-10:55 PM PT (1:15-1:55 PM ET). The event will be webcast live on ThredUp's investor site, with a replay available for 30 days afterward. ThredUp aims to inspire consumers to consider secondhand options first, featuring over 125 million items and 35,000 brands, promoting sustainability in fashion.
thredUP (NASDAQ: TDUP) recently unveiled its 'Thrift for the Holidays' Report, revealing that nearly 50% of U.S. consumers are considering thrifted gifts due to inflation and supply chain issues. Key findings show that 52% of consumers worry about rising gift costs, with 62% finding secondhand gifts more socially acceptable than five years ago. Additionally, 72% of Gen Z shoppers are open to secondhand gifts, highlighting growing sustainability concerns. The report underscores a shift towards thrifting, emphasizing both financial savings and environmental benefits.
ThredUp Inc. (Nasdaq: TDUP), a leading online resale platform for women's and kids' apparel, announces CEO James Reinhart and CFO Sean Sobers will participate in several investor conferences. The events include:
- Needham 1st Annual Virtual Consumer Tech/E-Commerce Conference on November 22, 2021
- Credit Suisse 25th Annual Technology Conference on November 30, 2021
- Barclays Global Technology, Media and Telecommunications Conference on December 7, 2021
Live webcasts will be available on thredUP's investor website, with replays accessible for 30 days.
ThredUp Inc. (Nasdaq: TDUP) reported a record revenue of $63.3 million for Q3 2021, marking a 35% year-over-year growth. Gross profit grew by 41% to $46.1 million, with gross margin increasing to 73%. Active Buyers reached 1.4 million, and orders grew by 28% year-over-year. ThredUp announced a new distribution center in Texas, anticipated to more than double capacity. The company also completed the Remix acquisition, expanding into Europe. Expected Q4 revenue is between $69 million and $71 million.
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.
Vopero, the fashion resale marketplace in Latin America, has announced a $7.5 million investment from Grupo Axo and thredUP. Founded in November 2020, Vopero aims to scale its operations in Mexico and Latin America, leveraging the resources of its investors. Since its launch less than a year ago, Vopero has onboarded over 3,000 sellers and achieved a 70% repeat customer rate, processing more than 80,000 secondhand products. The company focuses on promoting sustainability and democratizing access to fashion through its technology platform.
ThredUp Inc. (Nasdaq: TDUP) will announce its third-quarter financial results for 2021 on November 8, 2021, after the U.S. market closes. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET, available via phone for U.S. and international participants. ThredUp, a leading online resale platform for women's and kids' apparel, is focused on promoting sustainable fashion by facilitating secondhand shopping. The company has processed over 125 million secondhand items, driving its mission to inspire consumers to choose secondhand first.
On October 7, 2021, adidas launched its Choose to Give Back program, aimed at promoting the circular lifecycle of apparel and footwear by enabling consumers to send back used items for resale or reuse. Powered by thredUP's Resale-as-a-Service platform, participants can send in any brand's apparel through the adidas Creator's Club app. The initiative addresses the fashion industry's significant waste problem, with 36 billion clothing items discarded annually in the U.S. adidas aims for circularity in sportswear while incentivizing users with rewards.
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