OAKLAND, Calif. and
LOS ANGELES, Sept. 15, 2021 /PRNewswire/ -- Michael Stars, the apparel and lifestyle
company, 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
Michael Stars through its
Resale-as-a-ServiceⓇ (RaaSⓇ) platform.
The deal will facilitate apparel clean out in an effort to reduce
the number of clothing items thrown away in the U.S. each year – 95
percent of which could be recycled or reused. Michael Stars joins some of the world's leading
brands and retailers who deliver customized, scalable resale
experiences to their customers through thredUP's RaaSⓇ,
including GAP, Madewell, and Reformation.
Michael
Stars' resale experience is powered by thredUP's RaaSⓇ
technology, software, and logistics.
"The secondhand market is booming, and participating in the
resale economy is becoming table stakes for retailers," said
Suzanne Lerner, Cofounder and
President of Michael Stars. "thredUP
is transforming resale and writing the playbook for how brands can
enable resale at scale, and we're thrilled to partner with them to
debut Michael Stars' resale program
and better service customers and the environment."
"Michael Stars is well-known for
its timeless styles that are made to last and therefore have
excellent resale value," said Pooja
Sethi, Senior Vice President and General Manager of
RaaSⓇ at thredUP. "thredUP is thrilled to support
their newest initiative to encourage more circular habits among
consumers. By powering apparel Clean Out through our
Resale-as-a-Service, we aim to help keep clothes in use longer and
out of landfills."
Michael Stars customers can
generate a prepaid shipping label from
thredup.com/cleanout/michaelstars, fill any shippable box with
apparel, shoes, and accessories from any brand, and ship it to
thredUP for free. thredUP pays the seller for items that meet
quality standards and are sold on thredup.com in Michael Stars credit. Michael Stars' resale experience is powered by
thredUP's RaaSⓇ technology, software, and
logistics. Read more about thredUP's
RaaSⓇ here.
The deal aligns with Michael
Stars' mindful approach to circularity. They use sustainable
fabrics whenever possible, and more than 85% of their garments are
made in Michael Stars' hometown of
Los Angeles to ensure the quality
of product and the reduction of their carbon footprint. The brand
recently celebrated its 35th year anniversary and is
always receiving stories from fans who have had their Michael Stars tees for decades. Learn more about
Michael Stars' commitment to quality
here.
About Michael
Stars
Michael Stars is
a world-famous clothing brand out of Los
Angeles that was formed by husband-and-wife team
Michael Cohen and Suzanne Lerner. What started with an iconic,
one-sized tee that created a fashion movement, and has evolved into
a collection of contemporary and quality essentials. For over 20
years, the Michael Stars Foundation has been supporting and funding
grassroots organizations providing critical pathways to equality in
the United States and around the
world. To learn about their current efforts which include tees that
benefit Gloria Steinem's Ms. Foundation and Patricia Arquette's Give Love organization,
visit: https://www.michaelstars.com/
Media Contact
Juan
Cardoza
Krupp Group
michaelstars@kruppgroup.com
About thredUP
thredUP 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 Contact
Christina
Schultz
thredUP
media@thredup.com
Forward Looking Statements
This 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.
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SOURCE thredUP