ThredUp Releases Third Annual Impact Report

Report outlines company’s business and brand-aligned environmental, social, and governance (ESG) strategy and highlights progress in 2023

OAKLAND, Calif.–(BUSINESS WIRE)–ThredUp (NASDAQ: TDUP, LTSE: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories, today released its third annual Impact Report. Through transparent reporting and disclosures, the report provides a comprehensive view of ThredUp’s environmental, social, and governance (ESG) profile, outlining the company’s business and brand-aligned ESG strategy and detailing the progress the company made across ESG initiatives in 2023.

ThredUp is on a sustainability journey to make fashion circular, but our impact extends beyond our core mission to our people and our communities as well as how we operate our business, said James Reinhart, Cofounder and CEO of ThredUp. Our third annual Impact Report highlights our dedication to continuous improvement and how we’re expanding our positive impact as we continue to reshape the fashion landscape.

ThredUp’s 2023 Impact Report includes activities undertaken during the reporting period from January 1, 2023 to December 31, 2023. The company’s ESG strategy focuses on 12 key areas where they can have the most impact as identified through a materiality assessment. Highlights from 2023 include:

• Recirculated 2.2 million secondhand items through ThredUp’s Resale-as-a-Service (RaaS) and closed 2023 with 47 brand clients, including J. Crew, Tommy Hilfiger, Kate Spade, and Athleta.
• Diverted 100% of the items it didn’t resell in its marketplace from landfill through its Rescues and Aftermarket programs.
• Replanted 800 trees through Trees for the Future by buying 103,000 pounds of paper from Community Printers.
• Sent 100% of the Clean Out bags it received back from customers to The Azek Company, recycling 111,000 pounds of materials into decking products.
• Served as a founding member of the American Circular Textiles (ACT) policy group, advocating for sustainable textile policy.
• 73% of ThredUp’s workforce identifies as a minority, with 73% identifying as female, and 59% identifying as Black or Latinx.
• Donated $64,000 on behalf of the Future Fund, the company’s employee-led social impact organization.
• 44% of ThredUp’s Board of Directors identified as female, while 22% identified as a racial minority.

ThredUp is committed to releasing an annual Impact Report to provide transparency into its business operations and hold itself accountable to continually measure and advance its progress.

About ThredUp

ThredUp is transforming resale with technology and a mission to inspire the world to think secondhand first. By making it easy to buy and sell secondhand, ThredUp has become one of the world’s largest online resale platforms for 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. With ThredUp’s Resale-as-a-Service, some of the world’s leading brands and retailers are leveraging our platform to deliver customizable, scalable resale experiences to their customers. ThredUp has processed over 200 million unique secondhand items from 60,000 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.

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Press
Laura Hogya
[email protected]

Sustainability
Alon Rotem
[email protected]

Source: ThredUp