5.3 million orders a year, second-hand platform thredUP revenue 250 million

With the deepening of the concept of sustainable consumption, second-hand resale platforms have developed rapidly. On March 7, thredUP , a large second-hand e-commerce platform in the United States, announced its performance for the fourth quarter and the whole year of 2021, with many data setting historical highs.

According to the financial report, thredUP's revenue in the fourth quarter reached US$72.9 million , a year-on-year increase of 68 % , setting a record high . The gross profit margin in the fourth quarter was 66%, and the gross profit increased by 62% year-on-year. The annual revenue was US$251.8 million, a year-on-year increase of 35%. The annual gross profit margin was 70.7%, and the gross profit increased by 39% year-on-year .

In addition to the impressive revenue, the number of active buyers is also quite optimistic, reaching a record 1.7 million in the fourth quarter , and the number of orders also reached 1.7 million, up 36% and 69% year-on-year respectively. Annual orders reached 5.3 million , up 34% year-on-year , also setting a new record .

In this performance report, thredUP also mentioned several outstanding achievements of the company this year. In the fourth quarter of 2021, thredUP completed the acquisition of Remix and expanded its international business. thredUP also established a new resale as a service (RaaS) program with adidas, Crocs and Michael Stars , and opened two dedicated processing centers.

James Reinhart, CEO and co-founder of thredUP, said that thredUP 's fourth quarter financial performance was strong in its first year as a public company . In 2022, thredUP expects to continue to invest in domestic and international infrastructure , which will enable the company to continue to lay the foundation for the future of online resale.

ThredUP also made predictions about the future development . ThredUP said that the company's revenue in the first quarter of 2022 is expected to reach between US$70 million and US$72 million , with a gross profit margin of between 65% and 67% . For the entire fiscal year 2022, ThredUP expects revenue to be between US$330 million and US$340 million .

It is understood that thredUP is currently one of the largest online resale platforms for women's and children's clothing, shoes and accessories in the United States , and is very popular among consumers.

In recent years, resale platforms in the United States have grown rapidly by leveraging new market opportunities. At the same time, such platforms have also changed the way local consumers shop, further strengthening the sustainability of products.

ThredUp

250 million

5.3 million orders