Online resale store ThredUp is reportedly in talks to go public.
According to Bloomberg, which cited people with knowledge of the matter, the online marketplace is in talks with investment banks to submit proposals for potential roles in its IPO.
Go deeper with GlobalData
One of the sources said the IPO, planned for next year, could raise between US$200-300m.
Pre-loved clothing sites are quickly gaining traction.
According to research from ThredUp, the secondhand clothing market is expected to hit $64bn in the next five years and grow to almost twice the size of the fast fashion market by 2029.
Earlier this year, US retail giant Walmart signed a partnership with ThredUp as it looks to enhance its offering amid a bid to establish Walmart.com as a destination for fashion. The move followed ThredUp’s partnership with Gap.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataMeanwhile, Swedish retailer H&M debuted its online second-hand clothing shop Sellpy in Germany last month.
ThredUp did not respond to a request for comment at the time of going to press.
