American clothing resale platform ThredUp reported a 26.7 per cent growth in revenue in the second quarter.
As per Apparel Resources, ThredUp’s revenues touched $59.96 in the quarter that ended 30 June 2021, which was much more than $47.34 million it posted a year back.
ThredUp’s active buyers also rose to 1.34 million, with orders of 1.22 million. However, the resale platform’s net loss widened to $14.38 million, its gross margin expanded to 73.6 per cent from 69.7 per cent a year before.
ThredUp has been growing lately! Besides some impressive revenue numbers in recent times, it also recently announced its plans of buying fashion resale business Remix Global AD in its endeavour to expand to Europe.
This deal is expected to conclude in the fourth quarter of this year. Founded in 2009, ThredUp has been successfully selling secondhand clothes online.
