Latest news with #JamesReinhart
Business Mayor
15-05-2025
- Business
- Business Mayor
ThredUp overhauls resale service, slashes fees
Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback. With an open-source approach to tech, ThredUp is overhauling its resale-as-a-service offering with new features and a new fee structure, the recommerce platform announced last week. With the update, upfront and monthly fees for branded resale shops on ThredUp have been eliminated entirely, and the company is lowering the usage-based fees for its closet Clean Out and customer cash out programs. The resale company is also giving brands access to its cleaning and repair partners, connecting them with end-of-life service providers and integrating returns more deeply into branded shops. ThredUp will launch a peer-to-peer resale platform by the end of the year and now also allows brands to list menswear on their resale shops. The changes came as ThredUp reported a 10% jump in Q1 revenue , to $71.3 million. Active buyers grew 6% and net loss narrowed to $5.2 million, per a press release. Describing its enhanced brand resale service as a 'universal recommerce layer,' ThredUp envisions that it could change the way brands sell used items, much like Amazon Web Services reshaped cloud services or Shopify changed e-commerce for small businesses, the company said in a statement. ' ThredUp has decided to take an open-source approach and make our RaaS software layer available to our partners for free, knowing that their ability to launch scalable and profitable resale channels will serve our strategic goals for this sector in the long run,' ThredUp CEO James Reinhart said in a LinkedIn post . 'We believe the future of retail is circular, so we're lowering the barriers for brands to not just participate, but to lead. This strategic evolution of RaaS will fundamentally change how apparel and accessory companies build truly impactful circular programs,' Reinhart said. ThredUp is also touting the offering as a potential tariff defense, giving brands a supplemental revenue stream that relies on domestic goods. As trade policy continues to shift, ThredUp in a recent report forecast an increase in demand for secondhand goods and growing interest among executives in using resale to their advantage. As it revamps its retail-as-a-service offering, ThredUp remains optimistic about the near future. For both the second quarter and the year, the company anticipates revenue will grow 10% at the midpoint, reaching between $281 million and $291 million for fiscal 2025.
Yahoo
14-05-2025
- Business
- Yahoo
ThredUp overhauls resale service, slashes fees
This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. With an open-source approach to tech, ThredUp is overhauling its resale-as-a-service offering with new features and a new fee structure, the recommerce platform announced last week. With the update, upfront and monthly fees for branded resale shops on ThredUp have been eliminated entirely, and the company is lowering the usage-based fees for its closet Clean Out and customer cash out programs. The resale company is also giving brands access to its cleaning and repair partners, connecting them with end-of-life service providers and integrating returns more deeply into branded shops. ThredUp will launch a peer-to-peer resale platform by the end of the year and now also allows brands to list menswear on their resale shops. The changes came as ThredUp reported a 10% jump in Q1 revenue, to $71.3 million. Active buyers grew 6% and net loss narrowed to $5.2 million, per a press release. Describing its enhanced brand resale service as a 'universal recommerce layer,' ThredUp envisions that it could change the way brands sell used items, much like Amazon Web Services reshaped cloud services or Shopify changed e-commerce for small businesses, the company said in a statement. 'ThredUp has decided to take an open-source approach and make our RaaS software layer available to our partners for free, knowing that their ability to launch scalable and profitable resale channels will serve our strategic goals for this sector in the long run,' ThredUp CEO James Reinhart said in a LinkedIn post. 'We believe the future of retail is circular, so we're lowering the barriers for brands to not just participate, but to lead. This strategic evolution of RaaS will fundamentally change how apparel and accessory companies build truly impactful circular programs,' Reinhart said. ThredUp is also touting the offering as a potential tariff defense, giving brands a supplemental revenue stream that relies on domestic goods. As trade policy continues to shift, ThredUp in a recent report forecast an increase in demand for secondhand goods and growing interest among executives in using resale to their advantage. As it revamps its retail-as-a-service offering, ThredUp remains optimistic about the near future. For both the second quarter and the year, the company anticipates revenue will grow 10% at the midpoint, reaching between $281 million and $291 million for fiscal 2025. Beyond introducing new recommerce features for brands, ThredUp also curated a vintage and vintage-inspired pop-up this month in collaboration with Beyond Retro. The online pop-up featured more than 17,000 womenswear items priced between $10 and $200. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fashion United
08-05-2025
- Business
- Fashion United
ThredUp reports ‘record' quarterly revenue, raises full year outlook
Resale platform ThredUp reported a 'record' quarterly revenue for the first quarter ended March 31, 2025. With this, the company said it would be raising its full year outlook as it continued to drive improvements in its product experience, CEO James Reinhart said. Over the period, revenue reached 71.3 million dollars, a 10 percent year-over-year increase for the company. Its gross profit came to 56.4 million dollars, up 9 percent, while its gross margin sat at 79.1 percent, compared to 80.1 percent last year. ThredUp narrowed its operating losses from 12.2 million dollars in 2024 to 5.2 million dollars, or a negative 7.3 percent of revenue. Its adjusted EBITDA, meanwhile, was 3.8 million dollars, down from a prior 1.9 million dollars. With this, the US firm posted a revised financial outlook for 2025, raising its forecast for revenue to be in the range of 281 and 291 million dollars, a 10 percent YoY uptick. Its gross margin for the year is anticipated to be between 77 and 79 percent, while its adjusted EBITDA margin is forecast at around 4 percent. ThredUp has made some notable steps over the past quarter to help improve its positioning. These have included the launch of an AI-powered social commerce experience, Shop Social, and the announcement of a branded resale platform that will allow brands to utilise its full technology suite and operations to help launch their own resale programmes.
Fashion Network
06-05-2025
- Business
- Fashion Network
ThredUp sales surge 10% on record-breaking new buyer growth
Resale platform ThredUp announced on Tuesday first-quarter revenues increased 10% to $71.3 million, on the back of solid gains in its active buyer numbers during the three months. The Oakland, California-based company said active buyers grew 6% to 1.37 million, with new buyer growth of 95%, serving as its best quarter for new buyer acquisition since its inception. Active orders were also up 16% for the three months ending March 31. Profit-wise, the company said loss from continuing operations was $5.2 million for the first quarter, compared to a loss from continuing operations of $12.2 million last year. 'We are proud to deliver Q1 out-performance, including a record quarter for new buyer acquisition,' said ThredUp CEO and co-founder, James Reinhart. 'With momentum in our marketplace, we are pleased to be raising our full year outlook while we continue to improve the product experience for both buyers and sellers.' Looking ahead, the company said it expects full-year revenue to be in the range of $281 million to $291 million, up 10% year-over-year at the midpoint. Earlier this year, the online resale platform launched its annual 'Resale Report' revealing that the global secondhand apparel market is projected to reach $367 billion by 2029.
Fashion Network
06-05-2025
- Business
- Fashion Network
ThredUp sales surge 10% on record-breaking new buyer growth
Resale platform ThredUp announced on Tuesday first-quarter revenues increased 10% to $71.3 million, on the back of solid gains in its active buyer numbers during the three months. The Oakland, California-based company said active buyers grew 6% to 1.37 million, with new buyer growth of 95%, serving as its best quarter for new buyer acquisition since its inception. Active orders were also up 16% for the three months ending March 31. Profit-wise, the company said loss from continuing operations was $5.2 million for the first quarter, compared to a loss from continuing operations of $12.2 million last year. 'We are proud to deliver Q1 out-performance, including a record quarter for new buyer acquisition,' said ThredUp CEO and co-founder, James Reinhart. 'With momentum in our marketplace, we are pleased to be raising our full year outlook while we continue to improve the product experience for both buyers and sellers.' Looking ahead, the company said it expects full-year revenue to be in the range of $281 million to $291 million, up 10% year-over-year at the midpoint. Earlier this year, the online resale platform launched its annual 'Resale Report' revealing that the global secondhand apparel market is projected to reach $367 billion by 2029.
