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ThredUp looks to raise up to 168 million dollars in IPO

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ThredUp looks to raise up to 168 million dollars in IPO

Fashion resale platform ThredUp is aiming to raise up to 168 million dollars in its upcoming IPO.

The US company said Thursday it plans to sell 12 million shares of its Class A common stock at a price of between 12 dollars and 14 dollars, the upper range of which would raise 168 million dollars and value the business at around 1.3 billion dollars.

The San Francisco-based company plans to list on the Nasdaq Global Select Market under the ticker symbol ‘TDUP’.

ThredUp is one of the pioneers in the fast-growing resale market, which in recent years has been driven by increasing consumer awareness over the damage the fashion industry – and particularly fast-fashion – is having on the environment.

Resale continues to grow

According to ThredUp’s most recent annual report published in June, the second-hand market is expected to hit 64 billion dollars in the next five years and overtake the fast-fashion industry by 2029.

The IPO comes hot on the heels of one launched earlier in January by Redwood City, California-based rival Poshmark.

The two companies are tapping into the same second-hand market with different business models. While Poshmark takes commissions on peer-to-peer sales – in other words, it doesn’t hold an inventory – ThredUp uses a consignment model. The company sends its users “Clean Out bags” which they fill with their unwanted items. It then receives the bags and sells them through its platform, giving the user a percentage of the price.

Despite the pandemic, ThredUp reported a 14 percent increase in revenue in the year ended December 31, 2020. However, its net loss in the year widened to 47.9 million dollars compared to 38.2 million dollars the year before.

ThredUp raised 175 million dollars in funding in 2019, bringing its total raised to 340 million dollars from big-name investors including the likes of Goldman Sachs and Redpoint Ventures.

Since its founding in 2009, ThredUp has processed over 100 million unique second-hand items from 35,000 brands across 100 categories. The company estimates it has saved its buyers an estimated 3.3 billion dollars off the estimated retail price.

Image: ThredUp

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Fashion

GREYDER LAB AW21 Collection – Made of new innovative materials like cactus leather

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GREYDER LAB AW21 Collection - Made of new innovative materials like cactus leather

YES, the sustainable footwear fashion brand of this moment GREYDER L A B has launched its first Fall/Winter collection! Although saying goodbye to summer comes a little too soon for some, many are also looking forward to combining their outfits again with different layers that include jackets, long pants and cool high boots of recycled materials from the GREYDER L A B brand!

The Fall/Winter Collection ’21 is about the ‘Class of the Future’. GREYDER L A B ‘s aim is to show and teach people how to make the world a little better and more sustainable, together, in a fashionable, funky and positive way. Where people are open to new things, chill with each other and laugh with each other. Where every single person can be themselves. To create something cool for each, in the most sustainable way by using materials such as cactus, PET-bottles fished from the sea, coffee waste, gym floors, recycled cotton, cork and sugarcane.

Upgrade your look and go for a new style with GREYDER L A B men’s high tops. In GREYDER L A B ‘s fall men’s collection, you’ll find a huge selection of sustainable materials, different colors and different styles. All to express yourself.

GREYDER LAB AW21 Collection - Made of new innovative materials like cactus leather

High-top JAKE

Say hello to JAKE, high-top JAKE. Of which the upper is made of a mix of Recycled Canvas and LWG leather, and the sole is made of Recycled Rubber and Coffee Waste. With its leather lining and comfortable removable Leather Working Group leather footbed, which is by the way implemented in every model, you not only create a winning style, but also walk mega comfy!

GREYDER LAB AW21 Collection - Made of new innovative materials like cactus leather

Images: White sneaker: BOB – Made of LWG-leather, Recycled TR and Recycled Cork
Red sneaker: VLAD – Made of Recycled Canvas, Recycled TR and LWG leather

GREYDER LAB AW21 Collection - Made of new innovative materials like cactus leather

Beige lace-boot: CARLY – Made of Recycled PET bottles and LWG leather

Boost your shoe collection with sustainable fashion of GREYDER L A B ’s collection of versatile women’s sneakers and boots for the new season. Whether you go for cactus material or LWG leather… From knee-high casual boots to chunky boots, and everything in between, GREYDER L A B’s new collection of women’s boots has something for everyone. Whether it is a chelsea or a high-knee boot, both look killer with tights with a cool dress or frayed jeans. Besides that, with every GREYDER L A B shoe they will invest in preserving nature with their GREYDER L A B Forest Fund. So, what are you waiting for? Greyder Lab’s new collection of women’s boots will nail your wardrobe!!

GREYDER LAB AW21 Collection - Made of new innovative materials like cactus leatherGREYDER LAB AW21 Collection - Made of new innovative materials like cactus leather

Meet Boot RUBY

A must-have for each women’s feet! The upper is made of Leather Working Group leather and Thermoplastic Rubber. And, because these eco boots are made on a basis of custom-made shoe lasts and because they have a removable Leather Working Group leather footbed, they give you excellent foot-support as well. Ruby is also available in gold, made from cactus.

Read more about GREYDER LAB on the brandpage: fashionunited.com/companies/greyder-lab

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Nilit partners with The Ocean Foundation

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Image: Sensil Facebook

Nylon brand Nilit has partnered with The Ocean Foundation on its Blue Resilience Initiative.

Joining The Ocean Foundation’s Blue Resilience Initiative, the collaboration aims to protect essential ocean meadows and other coastal habitats. According to Nilit, marine grasslands are being damaged at the rate of two football fields per hour. As important oceanic ecosystems, the grasslands help to reduce global warming by taking CO2 from the atmosphere.

Nilit, which also owns sustainable brand Sensil, has previously stated that protecting the oceans and reducing CO2 is part of its Total Product Sustainability Program. Recently, it reduced CO2 emissions at its main facility, and has utilised clean energy techniques at its manufacturing plants.

“NILIT and The Ocean Foundation can affect both sides of the ocean health equation and, together, make a more substantial impact on the well-being of our oceans and our planet,” said head of global marketing at Nilit, Sagee Aran.

The Ocean Foundation’s Blue Resilience Initiative focuses on coastal reconstruction and providing carbon offsets for foundations, corporations, donors and events. Its work notes the ecological and social impact that coastal areas have on the world, with man made infrastructure degrading nature’s natural defense mechanisms. The Blue Initiative seeks to restore and protect these coastal habitats.

“We are excited to join in The Ocean Foundation’s crucial work to protect the marine ecosystems that sustain life in the oceans and on land,” said Aran. “The Ocean Foundation investment, we have expanded our vision far beyond the traditional supply chain structure so that we can more rapidly and effectively bring about positive environmental impact.”

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Nordstrom and Nike partner with Black Owned Everything

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Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything

Multibrand retailer Nordstrom has launched a partnership with marketplace Black Owned Everything, a platform promoting Black-owned businesses, and its founder Zerina Akers.

The collaboration sees Akers and Nordstrom come together on a curated selection featuring four Black-owned brands, displayed alongside new Nike and Jordan collections in the Nordstrom x Nike dedicated online space.

Labels included in the curation are William Okpo, Sammy B, L’Enchanteur and handbag designer Brandon Blackwood.

Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything

“When we launched Black Owned Everything back in February of this year, partnerships like Nordstrom x Nike were exactly the type of activations I had in mind to amplify the reach of the Black designers whom I work with and mentor,” said Akers, in a release.

She continued: “This intersection of well-established brands and emerging designers is where the progress of Black Owned Everything’s mission takes place.

“The inclusion of these selected designers is a big step for their individual career paths and an even bigger step in the right direction for the American marketplace and beyond.

Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything

“This curation is a fun mix of fashion and lifestyle pieces for the people who are keen to street trends and enjoy functionality.”

Simultaneous with the online presence of the collection, Black Owned Everything merchandise will also be available at four Nordstrom x Nike pop-ups in US-based Nordstrom stores.

Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything
Image: Nordstrom x Nike x Black Owned Everything
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