US fashion resale platform ThredUp posts Apr-June sales of $60 mn

ThredUp, a US-based online resale platform for women and kids’ apparel, reported 26.7 per cent revenue increase to $59.9 million in second quarter (Q2) of FY21 ended on June 30, 2021, compared to $34.9 million in corresponding quarter of last year. Despite the surge in revenue, the company’s net loss widened to $14.4 million (Q2 FY20: $6.7 million).

 

ThredUp, a US-based online resale platform for women and kids' apparel, reported 26.7 per cent revenue increase to $59.9 million in second quarter (Q2) of FY21 ended on June 30, 2021, compared to $34.9 million in corresponding quarter of last year. Despite the surge in revenue, the company's net loss widened to $14.4 million (Q2 FY20: $6.7 million).#

“ThredUp is pleased to share another strong quarter with a further proofpoint of secondhand’s strength as evidenced by our better-than-expected revenue growth. In addition, our industry-leading infrastructure is reflected by our strong gross margin trends,” James Reinhart, CEO and co-founder at ThredUp, said in a press release.

 

ThredUp, a US-based online resale platform for women and kids' apparel, reported 26.7 per cent revenue increase to $59.9 million in second quarter (Q2) of FY21 ended on June 30, 2021, compared to $34.9 million in corresponding quarter of last year. Despite the surge in revenue, the company's net loss widened to $14.4 million (Q2 FY20: $6.7 million).#

According to the company, active buyers of 1.34 million and orders of 1.22 million grew 8 per cent and 22 per cent, respectively in Q3 compared to last year. ThredUp further stated that it intends to expand its footprint into Europe with the planned acquisition of Remix, and the transaction expected to close in the fourth quarter of 2021.

 

ThredUp, a US-based online resale platform for women and kids' apparel, reported 26.7 per cent revenue increase to $59.9 million in second quarter (Q2) of FY21 ended on June 30, 2021, compared to $34.9 million in corresponding quarter of last year. Despite the surge in revenue, the company's net loss widened to $14.4 million (Q2 FY20: $6.7 million).#

For the FY21, the company expects sales to be between $236 million to $241 million.