Resale Platform Thredup Goes Public

The resale market is hot and is expected to reach $36 billion by 2024. (GlobalData)

Secondhand clothing site Thredup wants to build a resale technology solution for brands alongside its customer marketplace.

Since 2018, Thredup has been building its “resale as a service,” which will allow brands to provide their own resale options to customers. It began with the ability for customers selling to Thredup to receive a brand credit instead of receiving cash. It has since expanded. Some partners offer items provided by Thredup in their stores and website and brands can also send returns or damaged goods into Thredup. Thredup’s goal is to continue to build these relationships so that brands, on their own websites, can offer pre-owned merchandise with the technology and fulfilment provided by Thredup on the backend.

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