ThredUp Releases Fourth Annual Impact Report

OAKLAND, Calif.--(BUSINESS WIRE)--ThredUp (NASDAQ: TDUP, LTSE: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories, today released its fourth annual Impact Report. The report provides a comprehensive and transparent look into ThredUp's overall impact, including its environmental, social, and governance (ESG) strategy, detailing the progress made on key initiatives throughout 2024.

"What began 16 years ago as a simple belief in a better way to experience fashion has evolved and grown into a powerful, undeniable movement,” explains James Reinhart, ThredUp’s Co-founder and CEO. “This fourth annual impact report is a testament to our deepening impact, showcasing how our relentless focus on operationalizing circularity at scale is not only helping us expand our vast marketplace, but also shaping the future of fashion for good."

The Impact Report highlights key initiatives from January 1, 2024 through December 31, 2024, focusing on 12 areas identified through a materiality assessment as having the greatest potential for impact.

The company’s 2024 highlights include:

• Recirculated 2.3 million secondhand items through ThredUp’s Resale-as-a-Service (RaaS); expanded to 50 brand clients, including Reformation, Torrid, Madewell, Gap and Athleta.
• Sold 771,043 items through our Rescues channel, with a total of 6.3 million items sold to date.
• Participated in the launch of the Slow Fashion Caucus, where Chief Strategy Officer Alon Rotem delivered remarks on the critical need for public policy to accelerate the transition to a sustainable fashion future.
• In partnership with The AZEK Company, recycled 182,400 pounds of materials in 2024 (a 62.9% increase from 2023), turning 100% of Clean Out bags into TimberTech composite decking.
• In partnership with American Circular Textiles (ACT), launched the Sales and Use Tax petition to oppose the double taxation of secondhand goods.

ThredUp remains committed to releasing an annual Impact Report, providing transparency into its operations and holding itself accountable to continuously measure and advance its progress.

About ThredUp

ThredUp is transforming resale with technology and a mission to inspire the world to think secondhand first. By making it easy to buy and sell secondhand, ThredUp has become one of the world's largest online resale platforms for apparel, shoes and accessories. Sellers love ThredUp because we make it easy to clean out their closets and unlock value for themselves or for the charity of their choice while doing good for the planet. Buyers love shopping value, premium and luxury brands all in one place, at up to 90% off estimated retail price. Our proprietary operating platform is the foundation for our managed marketplace and consists of distributed processing infrastructure, proprietary software and systems and data science expertise. With ThredUp’s Resale-as-a-Service, some of the world's leading brands and retailers are leveraging our platform to deliver customizable, scalable resale experiences to their customers. ThredUp has processed over 200 million unique secondhand items from 60,000 brands across 100 categories. By extending the life cycle of clothing, ThredUp is changing the way consumers shop and ushering in a more sustainable future for the fashion industry.