Technology-Platform Recurate Puts The Power Of Resale Into Fashion Brands’ Hands [Forbes]
Poshmark, Inc. - Class A (POSH)
Company Research
Source: Forbes
Woman taking photo of t-shirt using her smartphone for selling or donating her clothes. Decluttering... [+]Clothes, Sorting, And Cleaning Up. Reuse, second-hand concept. Conscious consumer.gettySecondhand resale is by far the hottest segment in the global fashion market. Over the next five years, apparel resale is expected to grow more than three times faster than the primary market, from $96 billion in 2021 to $218 billion by 2026, according to the latestThredup Resale ReportAnd within the secondhand fashion market, online resale is growing the fastest, expected to reach over 50% of the market by 2024 and grow nearly four-times by 2026. To date, third-party marketplaces, such as Poshmark, Vestiaire Collective, eBay, The RealReal and Thredup, have enjoyed most of the largesse.Though some brands have established their own resale programs, like Patagonia, Eileen Fisher, and REI, other brands that want to get in on the action have largely partnered with Thredup using its-As-A-ServiceTGT
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