After the credit-rush, consumers everywhere are looking for intelligent ways to spend less: reduce, reuse, recycle. The world is awash in the supply of most things and entrepreneurs are figuring out creative new ways to find willing buyers. This is well past serving those who can’t afford new. Today used clothes are for the financially savvy. See Why is Silicon Valley pouring millions of dollars into old clothes:
Venture capital firms poured hundreds of millions of dollars into fashion resale in 2015; total funding over the past five years has blown past the $400 million mark. In January, online consignment shop Tradesy raised $30 million. By the end of April, vintage luxury reseller RealReal had raised $40 million and social commerce site Poshmark had taken in $25 million. European resale shop Vestiaire Collective scored a $37 million round in September. Then came Goldman’s monster round for ThredUp, perhaps the most mainstream of the bunch. “It’s a category that’s very much winner-take-all,” …”VCs know that if they pick the winner, it’ll have a long-term sustainable advantage.”
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