×
79 858
Fashion Jobs
MACY'S
Asset Protection Supervisor, Bailey Road - Full Time (3840)
Permanent · North Jackson
MACY'S
Asset Protection Security Guard, Presidential Markets - Full Time
Permanent · Snellville
HOMEGOODS
Loss Prevention Customer Service Associate
Permanent · Alexandria
TJ MAXX
Tjx 3pl Loss Prevention Manager - South Brunswick, nj
Permanent · North Bergen
HOMEGOODS
Loss Prevention Detective
Permanent · Alexandria
HOMEGOODS
Full Time Retail Loss Prevention Detective
Permanent · Cincinnati
TJ MAXX
Loss Prevention Customer Service Associate
Permanent · Farmington Hills
MARSHALLS
lp Detective
Permanent · Portland
SIERRA
District Manager
Permanent · Fort Collins
TJ MAXX
Memphis - Production Planning Manager
Permanent · Memphis
HOMEGOODS
Loss Prevention Detective
Permanent · Kensington
TJ MAXX
Distribution Center Loss Prevention Supervisor -New Bergen, nj
Permanent · North Bergen
TJ MAXX
Retail Loss Prevention Detective
Permanent · Roseville
HOMESENSE
Loss Prevention Detective
Permanent · Woburn
TJ MAXX
Retail Loss Prevention Detective
Permanent · Bloomfield Hills
MARSHALLS
70118-lp Detective
Permanent · Stamford
HOMEGOODS
Loss Prevention Customer Service Associate
Permanent · Reading
CONVERSE
North America Planning Manager, Wholesale
Permanent · Boston
NIKE
Talent Acquisition Operations Manager – HR Transformation & Global Portfolio Management
Permanent · Beaverton
NIKE
Finance Manager, Global Technology
Permanent · Beaverton
NIKE
Talent Acquisition Operations Process Manager
Permanent · Beaverton
JOCKEY
Associate Manager at Jockey -Full Time $17/HR
Permanent · Edinburgh
Published
Jul 27, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

ThredUp acquires Remix, debuts European expansion

Published
Jul 27, 2021

U.S.-based fashion resale site ThredUp announced on Monday plans to acquire Remix Global AD, one of Europe's leading fashion resale companies, signalling the brand’s international expansion in Europe, where the secondhand market is expected to grow to $39 billion by 2025. 

ThredUp acquires Remix, debuts European expansion. - Facebook: ThredUp


The price of the deal includes approximately $28.5 million, with $6.5 million in restricted stock units given to the Remix management team that will vest over four years. The acquisition is expected to close during the fourth quarter of 2021 and is subject to customary closing conditions and other deal specific closing conditions.

As part of the terms, Remix will operate as an independent business unit under the ThredUp umbrella, led by CEO Lyubomir Klenov. Klenov will lead ThredUp's European expansion efforts as it continues to build out its presence across other key markets.

"Lyubomir and his team have built a strong, lean, customer-first business, and they know how to deliver resale operationally across multiple markets in Europe," said James Reinhart, co-founder and CEO at ThredUp. "We're bullish about the massive opportunity in the European resale market and are thrilled about the chance to build on Remix's technology and operational expertise to help accelerate its growth.”

"We've long admired ThredUp's leadership in the United States and their dedication to building a mission-driven company that makes it easy to buy and sell secondhand," said Lyubomir Klenov, CEO of Remix. "Together, I believe we can build upon Remix's core operational engine, technology, and logistics to bring that scalable experience to the European market, where resale has only scratched the surface.”

The acquisition will accelerate ThredUp’s growth plans in Europe, as it displays strong domestic growth for ThredUp and Resale-as-a-Service (RaaS) expansion, including new deals with Vera Bradley, Farfetch, LG, and Madewell.

With this acquisition, ThredUp also adds a complementary operational infrastructure and an experienced management team to springboard its expansion into Europe, as it plans to invest in Remix's product offerings, processing infrastructure, and go-to-market strategy to accelerate its marketplace growth.

Finally, the Remix acquisition equally allows ThredUp the potential to extend its RaaS platform beyond the United States, enabling brands and retailers to deliver customized resale experiences to their customers in Europe.

In March, ThredUp raised $168 million in its initial public offering and earned a valuation of about $1.3 billion.

Copyright © 2022 FashionNetwork.com All rights reserved.