ThredUp Releases Third Annual Impact Report
August 01 2024 - 9:00AM
Business Wire
Report outlines company’s business and
brand-aligned environmental, social, and governance (ESG) strategy
and highlights progress in 2023
ThredUp (NASDAQ: TDUP, LTSE: TDUP), one of the largest online
resale platforms for apparel, shoes, and accessories, today
released its third annual Impact Report. Through transparent
reporting and disclosures, the report provides a comprehensive view
of ThredUp’s environmental, social, and governance (ESG) profile,
outlining the company’s business and brand-aligned ESG strategy and
detailing the progress the company made across ESG initiatives in
2023.
“ThredUp is on a sustainability journey to make fashion
circular, but our impact extends beyond our core mission to our
people and our communities as well as how we operate our business,”
said James Reinhart, Cofounder and CEO of ThredUp. “Our third
annual Impact Report highlights our dedication to continuous
improvement and how we’re expanding our positive impact as we
continue to reshape the fashion landscape.”
ThredUp’s 2023 Impact Report includes activities undertaken
during the reporting period from January 1, 2023 to December 31,
2023. The company’s ESG strategy focuses on 12 key areas where they
can have the most impact as identified through a materiality
assessment. Highlights from 2023 include:
- Recirculated 2.2 million secondhand items through ThredUp’s
Resale-as-a-Service (RaaS) and closed 2023 with 47 brand clients,
including J. Crew, Tommy Hilfiger, Kate Spade, and Athleta.
- Diverted 100% of the items it didn’t resell in its marketplace
from landfill through its Rescues and Aftermarket programs.
- Replanted 800 trees through Trees for the Future by buying
103,000 pounds of paper from Community Printers.
- Sent 100% of the Clean Out bags it received back from customers
to The Azek Company, recycling 111,000 pounds of materials into
decking products.
- Served as a founding member of the American Circular Textiles
(ACT) policy group, advocating for sustainable textile policy.
- 73% of ThredUp’s workforce identifies as a minority, with 73%
identifying as female, and 59% identifying as Black or Latinx.
- Donated $64,000 on behalf of the Future Fund, the company’s
employee-led social impact organization.
- 44% of ThredUp’s Board of Directors identified as female, while
22% identified as a racial minority.
ThredUp is committed to releasing an annual Impact Report to
provide transparency into its business operations and hold itself
accountable to continually measure and advance its progress.
About ThredUp
ThredUp is transforming resale with technology and a mission to
inspire the world to think secondhand first. By making it easy to
buy and sell secondhand, ThredUp has become one of the world's
largest online resale platforms for 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. With ThredUp’s Resale-as-a-Service, some of
the world's leading brands and retailers are leveraging our
platform to deliver customizable, scalable resale experiences to
their customers. ThredUp has processed over 200 million unique
secondhand items from 60,000 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/20240801529013/en/
Press Laura Hogya media@thredup.com
Sustainability Alon Rotem sustainability@thredup.com
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