Grupo Axo and thredUP to invest USD $7.5M in
Vopero
Vopero expanded to Mexico in April 2021, with
plans to scale to additional Latin American countries, including
Brazil and Colombia
Vopero, the full-service fashion resale marketplace in Latin
America, today announced a USD $7.5 million investment from Grupo
Axo, a strategic apparel, accessories, and household goods
multi-channel and multi-brand operator, and thredUP (NASDAQ: TDUP),
one of the largest online resale platforms for women’s and kids’
apparel, shoes, and accessories.
In addition to the USD $7.5M investment from Grupo Axo and
thredUP, Vopero also received additional investment from Jaguar
Ventures, Luxor Capital, and Maria Raga (CEO, Depop), among other
investors. The company will leverage Grupo Axo and thredUP’s
combined resources and expertise to help scale Vopero into a
leading sustainable tech-driven resale fashion ecosystem in Mexico
and across Latin America.
“In less than a year since our launch, the market response has
been incredible. It is clear to us that the Mexican and Latin
American consumer has a strong desire to access the best fashion
brands without sacrificing sustainability. We are proud to have
created a digital platform that meets this secondhand demand,
supported by infrastructure that powers convenience and value for
our customers with triple impact, creating a unique experience,”
said Alejandro Esperanza, CEO of Vopero. “Together with Grupo Axo
and thredUP, we share a collective vision of making secondhand
mainstream. We are thrilled to leverage their invaluable
partnership and expertise as we scale Vopero and transform the
future of sustainable fashion in Latin America.”
Vopero was founded in November 2020 in Uruguay by Alejandro
Esperanza, CEO; Maggie Ferber, CPO; and Ignacio Cattivelli, CTO.
Vopero caters to Latin American consumers who seek a seamless, fun,
convenient, and sustainable way of buying and selling secondhand
clothing online. Underpinned by a proprietary technology platform
and its own infrastructure, Vopero aims to simplify the
re-circulation of fashion in perfect condition and democratize
access to aspirational fashion for all consumers by promoting
growing global trends around resale and the circular economy.
Vopero’s social commerce platform offers a plug-and-play resale
experience for fashion brands and retailers tailored to their
specific needs, including overstock resale via Vopero, ongoing
circular loyalty programs for customers to resell and repurchase,
and the creation and launch of a full secondhand section within a
brand’s online or physical store, with inventory sourced by
Vopero.
Since its launch less than a year ago, the company has focused
on creating a resale engine that can inspect, tag, photograph, and
distribute thousands of high-quality unique SKUs with unmatched
efficiency, providing a differentiated buyer and seller experience.
Vopero has onboarded more than 3,000 independent sellers and retail
stores on the platform and achieved a 70% repeat customer rate,
while processing more than 80,000 secondhand products in this time
frame. Vopero expanded to Mexico in April 2021, with plans to scale
across Latin American countries, including Brazil and Colombia.
“Vopero is a promising, fast growing company that provides
increased choice to customers, all while placing sustainability at
the core of its culture and operations,” said Andres Gomez, CEO of
Grupo Axo. “We believe sustainable, conscious e-commerce represents
a significant untapped opportunity in Latin America, with Vopero
uniquely positioned to lead the space. We look forward to
supporting the Vopero team as they target expansion at scale,
drawing from Grupo Axo’s deep expertise in multi-channel retail,
operations, logistics, distribution, and customer engagement.”
With this new partnership, Vopero plans to draw from Grupo Axo
and thredUP’s expertise in scaling multi-channel and multi-brand
retail operations and utilizing digital technology to build an
engaged resale community, respectively. Grupo Axo is a high growth
multi-brand fashion platform that operates in the full-price and
off-price industries across its brands – including household names
such as Tommy Hilfiger, Abercrombie & Fitch, Calvin Klein, Bath
& Body Works, and Guess, among others – and both physical and
online channels. thredUP is an online consignment and thrift store
with the mission of inspiring a new generation of consumers to
think secondhand first. The company has more than a decade of
expertise in delivering resale at scale and operates both a managed
marketplace where consumers can buy and sell secondhand items, as
well as its Resale-as-a-Service® (RaaS®) platform that enables
resale for leading fashion brands and retailers such as GAP,
Madewell, and Reformation. By leveraging these two realms of
experience and proven track records, Vopero is poised to drive a
new phase of growth.
“Resale has become a global phenomenon, and Vopero is well
positioned to drive the industry’s growth in Mexico and Latin
America,” said James Reinhart, Co-Founder and CEO at thredUP.
“thredUP is thrilled to facilitate the growth of the secondhand
market by supporting the talented founding team at Vopero, and we
believe resale will flourish in this market and ultimately bring us
closer to developing a more sustainable future for fashion.”
About Vopero
Vopero was founded in November 2020 in Uruguay by Alejandro
Esperanza, CEO; Maggie Ferber, CPO; and Ignacio Cattivelli, CTO.
Vopero caters to Latin American consumers who seek a seamless, fun,
convenient, and sustainable way of buying and selling secondhand
clothing online. Underpinned by a proprietary technology platform
and its own infrastructure, Vopero aims to democratize access to
aspirational fashion for all consumers by promoting growing global
trends around resale and the circular economy. Since its launch
less than a year ago, the company has focused on creating a resale
engine that can inspect, tag, photograph, and distribute thousands
of high-quality unique SKUs with unmatched efficiency, providing a
differentiated buyer and seller experience, with more than 3,000
independent sellers and retail stores and a 70% repeat customer
rate, while processing more than 80,000 second-hand products in
this time frame. Vopero expanded to Mexico in April 2021, with
plans to scale and increase its triple impact across Latin American
geographies, including Brazil and Colombia. For more information,
please visit https://www.vopero.com/.
About Grupo Axo
Grupo Axo is a leading multi-channel and multi-brand operator,
serving as a premier partner to clothing, accessories, and
household retailers who wish to build a successful business
presence in Latin America. Leveraging a solid reputation in the
retail and wholesale sector for more than 26 years, Grupo Axo
operates, distributes, and builds value for companies and their
brands through a unique multi-channel operation model. As of the
second quarter of 2021, the company operates more than 4,900 points
of sale in department stores, 750 boutiques in Mexico and Chile, 14
e-commerce stores, and the Privalia platform in Mexico, with
digital sales representing 29% of total consolidated net sales.
Within its portfolio, Grupo Axo is honored to represent Abercrombie
& Fitch, Arrow, Bath & Body Works, Bass, Brooks Brothers,
Brunello Cucinelli, Calvin Klein, Coach, Crate & Barrel, Guess,
Hollister, Izod, Laces, Lust, Nike, Olga, Rapsodia, Speedo, Taf,
True Kids, Tommy Hilfiger, Van Heusen, Victoria´s Secret, Warner´s,
Privalia, and Promoda. For more information, please visit
https://grupoaxo.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.
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version on businesswire.com: https://www.businesswire.com/news/home/20211025005079/en/
Media Contacts Vopero Maggie Ferber +598 94 328 383
maggie@vopero.com Grupo Axo Jorge Delarbre +52 55 1416 7287
jdelarbre@llorenteycuenca.com thredUP Christina Schultz
media@thredup.com
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