ThredUp, the 10-year-old fashion resale marketplace, has a lot of big news to boast about lately. For starters, the company just closed on $100 million in fresh funding from an investor syndicate that includes Park West Asset Management, Irving Investors and earlier backers Goldman Sachs Investment Partners, Upfront Ventures, Highland Capital Partners and Redpoint Ventures. The round brings ThredUP’s total capital raised to more than $300 million, including a previously undisclosed $75 million investment that it sewed up last year. A potentially even bigger deal for the company is a new resale platform that both Macy’s and JCPenney are beginning to test out, wherein ThedUp will be sending the stores clothing that they will process through their own point-of-sale systems, while trying to up-sell customers on jewelry, shoes, and other accessories. It says a lot that traditional retailers are coming to see gently used items as a potential revenue stream for themselves, and little wonder given the size of the resale market, estimated to be a $24 billion market currently and projected to become a $51 billion market by 2023. We talked yesterday with ThredUp founder and CEO James Reinhart to learn more about its tie-up with the two brands and to find out what else the startup is stitching together. TC: You’ve partnered with Macy’s and JCPenney.

Topics:  park west asset management   irving investors   goldman sachs investment partners   upfront   highland capital partners   redpoint    j     j     j    we re   louis vuitton    buying gap    j    ceo    j     rival the   realreal   i m      items   theory s    j    chanel   san francisco   kiev   phoenix   mechanicsburg pa    atlanta   chicago   laughs    thredup    a    we    we   i   old   ventures   macy s   j    tc   jr   navy   theory   banana republic   second-hand   goods   start   resale   people   brands   market   customers   dress   don   lot   stores   sell   process   year   scenes   company   data   marketplace   centers   platform   percent   standards   pay   shoppers   jewelry   handbag   luxury   gently   serve   sale   reject   

 

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