(Author : Marianne Wilson)
An online thrift store that counts some 20 million users has opened its first-ever physical storefront.
ThredUp has opened an outpost at Tanger Outlets, in San Marcos, Texas. The company plans to add four additional locations by year end. It is targeting traditional malls, outlet centers, and main street shopping districts nationwide. “With 85% of apparel still bought offline, stores help us reach those who need to ‘see it to believe it,‘” said James Reinhart, CEO and co-founder, ThredUp. “We’ve found that once customers experience ThredUp’s expectation-shattering quality standards, value and brands, they just keep coming back.”
Founded in 2009, ThredUp boasts items across more than 35,000 brands at prices that it says are up to 90% off the original retail value. Its online inventory is massive, growing by about 1,000 items every hour, according to racked.com, which also reports the company has a $500 million valuation.
Source : chainstoreage.com