ThredUp debuts luxury consignment category

By

Cassidy Mantor

Published
Jul 25, 2017

ThredUp has added Luxe, a new category where users can buy and sell luxury consignment items on the same platform that has routinely sold brands like Gap, J.Crew and Zara.

ThredUp's Head of Marketing, Karen Clark, told Racked that the addition of Luxe is helping the platform become a source of everything "from Gap to Gucci."

The idea behind Luxe is that ThredUp will become a one-stop shop where sellers can package all their old items at once. On the buyer side, offering Luxe will improve convenience where customers will not have to shop at multiple consignment stores for all the items they are looking for.

Clark explained the decision to add Luxe came from seeing "over 60,000 searches a week specifically for designer brands." She added that luxury brand interest is continuing to trend upward.

ThredUp offers sellers the ability to set their own prices and offers 80% commission on consigned items. The fee structure offered is more competitive than other online consignment sites such as The RealReal who takes an additional 10%. To promote the new category, buyers will be able to receive 100% of proceeds on their Luxe consignment sales from now through Labor Day.

From a technical standpoint, sellers can reclaim items in 90 days if their items do not sell. Additionally, items will be returned to sellers if they are not in good enough condition to meet ThredUp's quality standards.

Consumers can request an invitation to sell on the new Luxe platform. Currently only apparel will be accepted and it must be under 10 years old. Sunglasses, menswear, jewelry, formal gowns and items with real fur will not be accepted.

Over 600 luxury brands will be accepted including Chanel, Gucci, Marc Jacobs, Prada and Valentino.