Rebag Announces Partnership With Online Resale Platform thredUP

Rhea-AI Summary

Rebag (NASDAQ: RBAG) and thredUP (NASDAQ: TDUP, LTSE: TDUP) have announced a multifaceted partnership, allowing Rebag customers to resell items on thredUP for Rebag shopping credit, and thredUP customers to shop select Rebag inventory. Rebag has launched a Clean Out program powered by thredUP's Resale-as-a-Service, expanding the types of items customers can send in. Customers can generate a prepaid shipping label, fill a shippable box or bag, and ship it to thredUP for free. Additionally, thredUP customers can shop one-of-a-kind handbags from Rebag directly on thredup.com. The partnership aims to educate consumers on circular shopping and support the initiative through collaborative content, with a giveaway for social followers.

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• The partnership between Rebag and thredUP opens up new resale opportunities for customers, expanding the types of items that can be resold and offering a broader selection of inventory to thredUP customers. The collaboration also supports the initiative of educating consumers on circular shopping and sustainable fashion choices.

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• None.

Two Leading Resale Companies Converge to Push the Boundaries of the Secondhand Market

NEW YORK, Nov. 14, 2023 /PRNewswire/ -- Rebag, the authority in buying, consigning, trading, and selling luxury accessories including handbags, fine jewelry, watches, and more, today announced a multifaceted partnership with thredUP (NASDAQ: TDUP, LTSE: TDUP), one of the largest online resale platforms. Rebag customers can now resell gently-worn items on thredUP for Rebag shopping credit, and thredUP customers can shop select Rebag inventory directly on thredup.com.

As part of the partnership, Rebag has launched a Clean Out program powered by thredUP's Resale-as-a-Service^® (RaaS^®), which enables the world's leading fashion brands and retailers to deliver customizable, scalable resale experiences to their customers. By partnering with thredUP, Rebag is expanding the types of items its customers can send in. thredUP's marketplace carries over 55,000 brands across 100 categories, offering Rebag customers an opportunity to clean out more than just luxury items from their closets. To participate, customers can generate a prepaid shipping label from rebag.thredup.com, fill any shippable box or bag with apparel, shoes, and accessories from any brand in their closet, and ship it to thredUP for free. For items that sell on thredUP, customers receive Rebag credit that can be used online and in-store.

Additionally, thredUP customers can now shop a range of one-of-a-kind handbags from Rebag directly on thredup.com. By listing Rebag items on thredUP's website, thredUP is providing a broader selection of inventory to its customers with more luxury items from brands such as Chanel, Christian Dior, Gucci, Hermes and Louis Vuitton. Additional Rebag product categories, including watches and fine jewelry, will be added soon.

Rebag and thredUP will join forces in an effort to educate consumers on circular shopping and support the initiative through collaborative content. Starting in December, Rebag and thredUP will host a giveaway for its social followers.

"We are thrilled to partner with thredUP and further expand our resale offerings to new customers," says Charles Gorra, Founder and CEO of Rebag. "Consumers will be able to shop an incredible assortment of luxury accessories in our expertly-vetted inventory through thredUP and earn Rebag credit for sending in pre-loved items through thredUP's Clean Out program."

"Industry collaboration is key to building a more sustainable future for fashion, and Rebag and thredUP have a shared vision around reuse's ability to reduce fashion's impact," said James Reinhart, CEO of thredUP. "Through our partnership, we're enabling more shoppers to participate in resale and ultimately encouraging people to make more sustainable shopping choices."

Following Rebag's launch of Consignment in late September, the Rebag x thredUP partnership supports Rebag's dedication to providing customers with flexibility in selling options and complements its existing buyout and trade offerings. Rebag's groundbreaking Consignment offering eliminates ambiguous payout amounts, fluctuating commission rates and lengthy payment processes typically associated with consignment; instead, sellers have visibility and control from start to finish with upfront quotes, pre-approved payouts, fixed commission rates and quick payments.

For further information, please contact: Factory PR, rebag@factorypr.com, 212.941.9394

About Rebag:
Rebag is the authority on buying, consigning, trading, and selling luxury items, offering users unprecedented transparency and flexibility with their purchases. Founded by Charles Gorra in 2014, Rebag is one of the fastest growing retailers in the US, and has established itself as a leader in the luxury resale space. With the launch of its Consignment tool in late September 2023, Rebag is now the most flexible selling platform allowing customers to buy, sell, trade and consign in one easy transaction. Rebag's intelligent Clair technology, which uses millions of data points to determine the resale value of designer items, enables customers to receive instant payment, a first in the resale industry. The digitally native company has opened retail locations in New York, Los Angeles and Florida. In 2020 and 2021, Rebag was named one of Fast Company's Most Innovative Companies. Rebag has been featured in the New York Times, Business of Fashion, Vogue, TechCrunch and more. For more information, visit www.rebag.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 online resale platforms for 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 172 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.

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SOURCE Rebag

FAQ

What is the partnership about?

Rebag and thredUP have partnered to allow Rebag customers to resell items on thredUP for Rebag shopping credit, and thredUP customers to shop select Rebag inventory.

What is the Clean Out program?

The Clean Out program, powered by thredUP's Resale-as-a-Service, enables customers to send in apparel, shoes, and accessories from any brand in their closet to thredUP for free.

How can customers participate in the program?

Customers can generate a prepaid shipping label from rebag.thredup.com, fill a shippable box or bag, and ship it to thredUP for free.

What additional benefits does the partnership offer?

thredUP customers can now shop one-of-a-kind handbags from Rebag directly on thredup.com, and Rebag and thredUP will host a giveaway for its social followers to support circular shopping.

What is the impact of the partnership?

The partnership opens up new resale opportunities, expands the types of items that can be resold, and supports the initiative of educating consumers on circular shopping and sustainable fashion choices.