thredUP Expands to Europe With Its Acquisition of Remix Global AD
ThredUp Inc., one of the largest online resale platforms for women’s and kids’ apparel, shoes, and accessories, announced the initial phase of its international expansion strategy by entering into a definitive agreement to acquire Remix Global AD (Remix), one of Europe’s leading fashion resale companies. The acquisition will accelerate thredUP’s growth plans in Europe, where the secondhand market was estimated to be $21 billion in 2020 and is expected to grow to $39 billion by 2025*. The news comes on the heels of strong domestic growth for thredUP and Resale-as-a-Service® (RaaS®) expansion, including new deals with Vera Bradley, FARFETCH, LG, and Madewell.
Much like thredUP’s own proprietary operating platform, Remix has built custom ‘single-SKU’ logistics that can process millions of unique garments efficiently. With this acquisition, thredUP adds a complementary operational infrastructure and an experienced management team to springboard its expansion into Europe. thredUP plans to invest in Remix’s product offerings, processing infrastructure, and go-to-market strategy to accelerate its marketplace growth. 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.
