Fabletics Introduces Resale Program Powered by thredUP’s Resale-as-a-Service®
26 July 2021 - 11:00PM
Fabletics, the global active lifestyle brand, and ThredUp Inc.
(NASDAQ: TDUP), one of the largest online resale platforms for
women’s and kids’ apparel, shoes, and accessories, today announced
that thredUP will power resale for Fabletics through its
Resale-as-a-ServiceⓇ (RaaSⓇ) platform. The deal marks Fabletics’
entry into the resale ecosystem and provides consumers with an easy
and sustainable way to refresh their closets and extend the life of
clothes.
"Fabletics’ move into resale is part of a broader
strategy to become more environmentally conscious. As a global
fashion brand, we do our best to give back to our communities and
our precious planet, but we know we must do more to lighten our
footprint and stimulate more eco-consciousness,” says Adam
Goldenberg, CEO of Fabletics. “This deal with thredUP is a win-win
for us and a good step into circularity – our customers now have a
hassle-free way to give their unwanted clothing a second life,
while gaining perks to refresh their closets, and we at Fabletics
are excited to play a more meaningful role in creating a more
sustainability-conscious fashion industry.”
“We’re delighted that Fabletics has chosen
thredUP’s Resale-as-a-ServiceⓇ (RaaSⓇ) to power their first resale
experience, enabling their members to responsibly clean out and
refresh their closets,” said Pooja Sethi, Senior Vice President and
General Manager of RaaSⓇ. “Thirty-three million Americans thrifted
for the first time in 2020. We believe by helping brands like
Fabletics enter the resale ecosystem that we can widen that reach,
keep even more clothes in circulation, and further our mission to
inspire a new generation of consumers to think secondhand
first.”
Fabletics will offer thredUP Clean Out Kits to
their members both online and in-store. Members fill their Clean
Out Kits with apparel, shoes, and accessories from any brand and
ship them to thredUP for free. thredUP pays the seller for items
that meet quality standards and can be sold in the form of
Fabletics credits, which are automatically added to the seller’s
Fabletics account and can be redeemed online or in-store for up to
12 months. Fabletics VIP members also receive 50 VIP reward points.
In addition, thredUP sellers can turn earned thredUP credit into
Fabletics credit, with a value that is 15% higher than the cash
payment option. Fabletics’ resale experience is powered by RaaSⓇ
technology, software, and logistics. Read more about RaaSⓇ
here.
This deal is part of a broader sustainability push
from Fabletics with the goal of reducing their fashion footprint.
Last year, Fabletics established carbon neutrality at all of its
stores, replaced plastic shipping bags with bags made of recycled
material, and launched an eco-conscious capsule for Earth Day made
entirely from recycled or upcycled materials. Learn more about how
Fabletics is taking steps towards sustainable style here.
About FableticsFounded in 2013,
Fabletics brings the fashion-house approach into the activewear
space by fusing style-centric designs with high-performance
technology. Driven by its innovative VIP membership program serving
over 2 million loyal members, Fabletics has evolved activewear
beyond the gym into every walk of life. The brand’s spirit of
inclusivity guides its foundational belief that everyone and every
body deserves to look and feel their best. New women’s styles drop
every week in sizes XXS-4X and men’s styles drop every month in
sizes XS-XXL. See and shop the collections in the US, Canada, most
of Europe and at the brand’s 52 state-of-the-art retail stores. To
experience the full selection of activewear, accessories, shoes and
more, visit fabletics.com. Fabletics is headquartered in El
Segundo, California.
Media ContactArielle
SchechtmanFableticspress@fabletics.com
About thredUPthredUP is
transforming resale with technology and a mission to inspire a new
generation of consumers to think secondhand first. By making it
easy to buy and sell secondhand, thredUP has become one of the
world’s largest resale platforms for women’s and kids’ apparel,
shoes and accessories. Sellers love thredUP because we make it easy
to clean out their closets and unlock value for themselves or for
the charity of their choice while doing good for the planet. Buyers
love shopping value, premium and luxury brands all in one place, at
up to 90% off estimated retail price. Our proprietary operating
platform is the foundation for our managed marketplace and consists
of distributed processing infrastructure, proprietary software and
systems and data science expertise. In 2018, we extended our
platform with thredUP’s Resale-As-A-Service (RaaSⓇ), which
facilitates modern resale for a number of the world’s leading
brands and retailers. thredUP has processed over 125 million unique
secondhand items from 35,000 brands across 100 categories. By
extending the life cycle of clothing, thredUP is changing the way
consumers shop and ushering in a more sustainable future for the
fashion industry.
Media ContactChristina
SchultzthredUPmedia@thredup.com
Forward Looking StatementsThis
release contains forward-looking statements. Forward-looking
statements include all statements that are not historical facts.
The words “believe,” “may,” “will,” “estimate,” “continue,”
“anticipate,” “intend,” “expect,” “predict” and similar expressions
are intended to identify forward-looking statements. These
forward-looking statements are subject to a number of risks,
uncertainties and assumptions. Except as required by law, thredUP
has no obligation to update any of these forward-looking statements
to conform these statements to actual results or revised
expectations.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0ed81d5d-6875-422e-a98b-4f527ea1cd6e
ThredUp (NASDAQ:TDUP)
Historical Stock Chart
From Apr 2024 to May 2024
ThredUp (NASDAQ:TDUP)
Historical Stock Chart
From May 2023 to May 2024