ThredUp’s Third-Party Platform May Be More Lucrative Than Its Secondhand Clothing Sales

ThredUp’s side gig, a resale platform called RaaS, or “resale as a service,” has expanded its client list by over 30% in the last year, could grow from about 30 now to more than 200 in the next five years, and could ultimately sign up more than 300, according to research this week from Wells Fargo. ThredUp collects monthly fees from Raas clients as well as a portion of their sales. That revenue could grow from $2 million this year to more than $300 million by 2025, and approach $925 million four years after that, per the report. The resale site’s 30 or so partners include Madewell, Walmart, Everlane, eBay, Farfetch, and Gap, “most recently adding their most impressive brand partner, adidas,” Wells Fargo analysts led by Ike Boruchow said. Read more at Retail Dive.