OAKLAND, Calif., Sept. 21, 2021 /PRNewswire/
-- ThredUp Inc. (NASDAQ: TDUP), one of the largest
online resale platforms for women's and kids' apparel, shoes, and
accessories, today announced the expansion of its operations in
Lancaster, Texas in the
Dallas-Forth Worth metroplex. thredUP anticipates the facility will
create 2,000 jobs, and the company will invest $70 million in capital for the new distribution
center.
thredUP's new 10M item flagship
distribution center in Lancaster
will support growing demand for secondhand apparel.
The new nearly 600,000 square foot facility located off I-35 and
I-20 is expected to be thredUP's largest and most automated
distribution center upon completion. It is designed to be thredUP's
first four-level facility and upon completion will store as many as
10 million items – more than doubling the company's total capacity
to 16.5 million items across its network. The state-of-the-art
facility will enable the company to further scale its operating
platform as more consumers resell their clothing and thredUP
continues to build the selection in its marketplace to historic
levels. According to thredUP's 2021 Resale Report, 52.6 million
Americans resold apparel in 2020, and 76% of people who have never
resold clothing are open to trying it.
thredUP's signature Clean Out Kit is available online at
thredUP.com, or through brands and retailers who rely on its
Resale-as-a-ServiceⓇ (RaaSⓇ) to deliver
scalable, customized resale experiences to their customers,
including apparel Clean Out. This announcement comes on the heels
of new RaaSⓇ deals with Madewell, FARFETCH, and
Michael Stars. Learn more about
thredUP's RaaSⓇ here.
"thredUP's newest distribution center underscores our
relentless investment in the technology and software that powers
our network and enables us to deliver resale at unparalleled
scale," said James Reinhart,
Co-Founder and CEO at thredUP. "With expanded item capacity and
automation capabilities, thredUP is accelerating its ability to
unlock massive amounts of supply and building the backbone for
resale on the Internet for our customers and RaaS clients."
thredUP expects to begin processing items in the new
distribution center in Q2 2022 with an initial capacity of 500,000
items. The company expects to employ 300 people at this new
location upon its opening with plans to employ 2,000 people total.
For more information about job opportunities in thredUP's
distribution centers, visit thredUP.com/careers. thredUP is
headquartered in Oakland, CA, with
offices in Scottsdale, AZ,
New York, and Ukraine. thredUP was recently recognized as a
finalist for Fast Company's World Changing Ideas Awards
2021.
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
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.
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.
Media Contact
Christina
Schultz
thredUP
media@thredup.com
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SOURCE thredUP