FARFETCH Launches Donate Service in US, Powered by New White Label Offering from thredUP's Resale-as-a-ServiceⓇ
NEW YORK and
"We're excited to work with thredUP to offer US consumers an easy and sustainable way to refresh their wardrobes," said
FARFETCH will offer FARFETCH Donate-branded Clean Out Kits to their customers online through an end-to-end customized resale experience. Customers fill their Clean Out Kits with apparel, shoes, and accessories and ship them to thredUP or have them collected at home for free . Once an item sells on thredUP, sellers donate at least 50 percent of the total payout to their choice of a select group of charities and receive any remaining payout as FARFETCH shopping credit. FARFETCH is thredUP's first RaaSⓇ partner to leverage its new white label offering, creating a fully-customized resale experience tailored to the FARFETCH brand and audience. thredUP technology, software, and logistics power the FARFETCH Donate experience. Learn more about RaaSⓇ here.
"Resale is an inevitable part of fashion's evolution and is the next emerging channel for apparel retailers," said
FARFETCH and thredUP are both committed to helping shift the fashion industry from a harmful, linear "take-make-dispose" model to a more circular one. FARFETCH Donate is part of the broader Positively FARFETCH strategy to become the platform for good in luxury fashion. FARFETCH is committed to becoming "more circular than linear" by 2030 as part of its recently launched 2030 sustainability goals, and growing FARFETCH Donate in the US by engaging with thredUP is integral to meeting this target. RaaSⓇ powers customized, scalable resale experiences for brands and retailers of all types – from value to mass to luxury – and is a powerful solution to the fashion industry's wastefulness.
About FARFETCH
For more information, please visit www.farfetchinvestors.com.
Contact
FARFETCH
maela.jouy@farfetch.com
About thredUP
thredUP is transforming resale with technology and a mission to inspire a new generation of consumers to think secondhand first. By making it easy to buy and sell secondhand, thredUP has become one of the world's largest resale platforms for women's and kids' 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. In 2018, we extended our platform with thredUP's Resale-As-A-Service (RaaSⓇ), which facilitates modern resale for a number of the world's leading brands and retailers. thredUP has processed over 125 million unique secondhand items from 35,000 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.
Contact
thredUP
media@thredup.com
View original content:https://www.prnewswire.com/news-releases/farfetch-launches-donate-service-in-us-powered-by-new-white-label-offering-from-thredups-resale-as-a-service-301322555.html
SOURCE thredUP