Kate Spade New York is joining ThredUp’s resale platform with the debut of the ‘Pre-Loved’ program. ThredUp's resale-as-a-service (RaaS) enables brands to connect to the company's operating platform to create a tailored resale experience, and the initiative has already recruited brands like Tommy Hilfiger, Canada Goose, and Francesca’s.
Customers may take part by printing a prepaid mailing label from the website, packing a shippable box with children's or women's merchandise, and sending it to ThredUp. Consumers will receive a shopping credit that can be used online or in-store.
“We continue to identify ways that our brand can show up for our community and help minimise our footprint on the planet. We are thrilled to partner with ThredUp, a company that shares our values, to work towards a more responsible future,” said Kate Spade New York CEO, Liz Frazer.
Image Credit: Kate Spade New York
What Makes This Trend Stand Out
- Pre-loved Accessories
- The growth of pre-loved accessories will increase opportunities for subscription-based businesses, rental services and luxury consignment stores.
- Resale-as-a-service
- Resale-as-a-service offers disruptive innovation opportunities in the retail industry by creating new revenue streams and increasing customer engagement.
- Sustainable Fashion
- The growth of pre-loved accessories as part of sustainable fashion will create disruptive innovation opportunities in the circular economy.
Sectors Adopting This
- Fashion Retail
- Fashion retailers can leverage the growth of resale-as-a-service to reinforce their position as sustainable brands.
- Luxury Goods
- Luxury goods retail will benefit from the high-end pre-loved accessories segment, while catering to its environmentally conscious customer base.
- Subscription Economy
- The subscription-based business model will become more relevant as pre-loved accessories create demand for a rental fashion model.
