thredUp

SUMMARY

thredUP is a leading online resale platform that revolutionises the way second-hand clothes are bought and sold. Founded in 2009, the company allows individuals to buy, sell, and donate high-quality pre-owned clothing, promoting sustainability and reducing waste in the fashion industry. With a focus on apparel, accessories and footwear, thredUP has distinguished itself through innovative technology and a commitment to environmental consciousness, transforming the thrift shopping experience into a modern, stylish affair.

HISTORY

thredUP was founded by James Reinhart, Chris Homer, and Chris Dock, who identified a gap in the market for a convenient and environmentally-friendly way to buy and sell second-hand clothes. The concept emerged from a simple idea: to make it easier for people to keep clothing circulating in the economy by connecting sellers and buyers online. Since its inception in 2009, thredUP has grown exponentially, achieving a milestone of over 1 million users shortly after its launch.

In 2014, thredUP made headlines with its innovative “Clean Out” programme, which allows users to send their unwanted clothing to thredUP in prepaid donation bags. This initiative not only simplifies the selling process for individuals but also encourages sustainable consumption by keeping garments out of landfill. The programme has become a hallmark of thredUP’s business model and has significantly contributed to its growth and success.

In 2018, thredUP announced a ground-breaking partnership with several notable brands to create “thredUP x [Brand]” collections. These collaborations have included limited-edition capsule collections, custom curated boxes, and exclusive offerings from high-end brands. By working with fashion labels, thredUP has expanded its reach and introduced premium second-hand options to its customers, demonstrating the viability and desirability of second-hand fashion.

Sustainability initiatives have long been a cornerstone of thredUP’s philosophy. In 2021, the company published its first comprehensive sustainability report, outlining its commitment to social and environmental responsibility. The report detailed strategies for reducing carbon emissions, promoting responsible materials sourcing, and upcycling textiles. Furthermore, thredUP has become a certified B Corporation, solidifying its status as a leader in the sustainability movement within the fashion industry.

Major milestones for the company include its initial public offering in March 2021. The IPO was met with substantial interest, underscoring the growing consumer demand for sustainable and circular fashion solutions. This public offering marked a significant moment for the company, bringing financial resources to further enhance its technology and increase its market presence.

In 2020, thredUP acquired the assets of Swap.com, a major competitor in the clothing exchange market. This acquisition allowed thredUP to broaden its inventory and customer base while reinforcing its positioning as a dominant player in the online resale marketplace. The integration of Swap.com solidified thredUP’s scale and operational efficiency in the increasingly competitive resale market.

Through collaborations, innovations, and strategic growth, thredUP has firmly established itself as a leader in the sustainable fashion movement. The company continues to advocate for reducing the environmental footprint of fashion while providing customers with affordable, stylish, second-hand clothing options.

VISION

James Reinhart’s vision for thredUP was sparked by a desire to create a more sustainable future for fashion, aiming to change the way people view pre-owned clothing. He envisioned a world where second-hand garments are not merely an afterthought but a mainstream choice for stylish consumers. By leveraging technology and reimagining the resale model, Reinhart sought to make thrift shopping a fashionable, convenient, and socially responsible option for everyone.

The vision extends beyond simply selling clothes; it is a commitment to fostering a circular economy within the fashion industry. This includes reducing waste through recycling and reusing materials and promoting responsible consumer behaviour. Reinhart aims to educate the public on the environmental impacts of fast fashion while celebrating the unique character and quality that comes from second-hand clothing.

Finally, the founder’s vision for thredUP is to empower individuals to participate in the sustainability movement actively. By creating a platform that values second-hand clothing, thredUP inspires consumers to rethink their purchasing habits and understand that sustainable fashion can also be synonymous with personal style and individuality.

MISSION STATEMENT

thredUP’s mission is to inspire people to live sustainably through the closet by making second-hand clothing accessible, stylish, and desirable. The company seeks to redefine thrift shopping by providing a modern, user-friendly platform that enables consumers to make more environmentally-conscious purchasing decisions. It aims to foster a community that celebrates second-hand fashion as a smarter choice for both personal style and the planet.

Central to thredUP’s mission is the commitment to reduce the environmental impact of apparel consumption. By promoting a circular economy, the company aligns itself with the broader goals of sustainability, seeking to minimise waste, conserve resources, and decrease the fashion industry’s carbon footprint. Through its innovative practices, thredUP empowers customers to extend the lifecycle of clothing and enjoy the benefits of a more sustainable wardrobe.

Lastly, thredUP strives for inclusivity in the fashion sphere. The company believes that everyone should have access to high-quality apparel, regardless of their income level. By creating an affordable platform for purchasing and selling second-hand clothing, thredUP champions the notion that sustainability can be both economically viable and fashionable. This mission reinforces the core values that drive thredUP’s day-to-day operations and strategic direction, ensuring it remains a catalyst for positive change in the fashion industry.

EXECUTIVE BOARD

• James Reinhart – Co-Founder & CEO
• Michele O’Connor – Chief Financial Officer
• Jeni Goh – Chief Marketing Officer
• Greg O’Connell – Chief Technology Officer
• Cindy B. – Chief Operating Officer

PRODUCTS AND SERVICES

thredUP’s product portfolio focuses primarily on apparel, accessories, and shoes, delivering a curated selection of high-quality second-hand items. The platform features popular brands and styles at significantly reduced prices, offering consumers an affordable yet stylish alternative to new apparel. Unique filters and sorting options help users find items that align with their personal style and preferences.

In addition to its core offerings, thredUP has introduced a subscription service known as “thredUP Rescue Box,” where customers can receive a curated selection of second-hand clothing items. This allows users to explore new styles and potentially discover valuable pieces at a fraction of traditional retail prices. The service caters to various preferences, such as seasonal boxes, themed collections, and specific age groups, further enhancing customer engagement.

The company also actively promotes “Clean Out” kits, which customers can use to send their unwanted clothing to thredUP for resale. This innovative service addresses the growing need for sustainable second-hand sales and encourages individuals to participate in the resale economy. The convenience of sending clothes in prepaid bags fosters a circular approach to fashion, contributing to reduced waste and broader acceptance of pre-owned clothing within mainstream consumer behaviour.

AWARDS AND RECOGNITION

thredUP is recognised for its innovative approach to sustainable fashion and its commitment to reshaping how consumers engage with apparel , accessories and shoes. Notably, it was named one of Fast Company’s “Most Creative People in Business” in 2019, highlighting its significant impact on the fashion resale market and its visionary leadership in sustainability.

In 2020, thredUP was awarded the “Best Resale Platform” title by the Good Housekeeping Institute, signifying its reputation for quality and reliability within the second-hand market. The recognition came as the company became popular for its seamless user experience, comprehensive product offerings, and dedication to promoting sustainable consumer habits.

Additionally, thredUP was included in Forbes’ “Next Billion-Dollar Startups” list in 2021, acknowledging its exceptional growth trajectory and innovative contributions to the fashion industry. This honour cements thredUP’s position as a trailblazer in the online resale space, reinforcing its goal of making second-hand shopping accessible and appealing to a new generation of eco-conscious fashion consumers.