- The company operates an online platform for secondhand apparel catering to the US market with a market share of only 2% but has seen rising buyer growth of 35.9%.
- It has an extensive logistics network and partnerships with leading US retailers such as Macy’s, Gap and Walmart to increase its presence.
- Through automation, the company is trying to increase its margins as its distribution centre-related costs are 50% of revenues.
- It is also targeting to expand internationally with the planned acquisition of Remix by Q4 2021 with revenues of $33.9 mln in 2020.
For further details see:
ThredUp: Competitors Trading At Better Multiples