The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The resale platform announced on Monday that it will acquire European resale company Remix Global AD (Remix) for $28.5 million to tap into the secondhand market in Europe — which is expected to grow to $39 billion by 2025, according to Thredup. With this acquisition, which is expected to close by the end of 2021, Thredup will build up its operational infrastructure and management team to further expand into Europe.
Thredup also plans to invest in the European resale company’s product offering, processing infrastructure and go-to-market strategy to encourage growth. Remix will operate as an independent business under the Thredup umbrella and its chief executive, Lyubomir Klenov, will remain in his role.
The resale platform has had a big year: Beyond filing for IPO in March, Thredup also recently partnered with Farfetch — where customers can thrift their old clothes for Farfetch store credit and at least 50 percent of the sale will go to charity.
Learn more: Farfetch Partners With ThredUp on US Resale Service
The online luxury marketplace said it is partnering with the US-based resale platform to help customers thrift their old clothes for charity and store credit.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.
Manhattanites had little love for the $25 billion megaproject when it opened five years ago (the pandemic lockdowns didn't help, either). But a constantly shifting mix of stores, restaurants and experiences is now drawing large numbers of both locals and tourists.