ThredUp's second quarter revenue reached $60 million! Active buyers and order volume hit record highs!

It is learned that ThredUp, an American resale e-commerce company, released its second quarter financial report on August 10. The second quarter performance exceeded Wall Street expectations. The following is a summary of ThredUp's second quarter financial report:

• Total revenue reached a record $60 million, up 26.7% year-over-year and beating Wall Street's expectations of $57.2 million.

• Gross profit and gross margin: Gross profit totaled US$44.1 million, up 33.7% year-on-year. Gross margin increased to 73.6% from 69.7% in the same period last year.

• Active buyers and order volume: 1.34 million active buyers and 1.22 million orders, up 8% and 22% year-on-year respectively, reaching record highs.

ThredUp expects full-year 2021 revenue to be between $236 million and $241 million.

It is reported that thredUP also plans to enter the European market through the acquisition of Remix to further expand its RaaS® customer base. The acquisition plan is expected to be completed in the fourth quarter of this year. From the ninth annual resale report released by thredUP, it can be seen that the second-hand market is expanding and is expected to expand from US$36 billion in 2021 to US$77 billion in 2025. thredUP will make an important contribution to this.

It is learned that recently thredUP has also announced RaaS agreements with Madewell, Farfetch, LG, Fabletics and Vera Bradley. These new RaaS deals highlight thredUP’s ability to provide large-scale resale for well-known brands and show that companies from all walks of life are participating in the clothing resale economy.

Editor ✎ Estella /

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