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But ThredUp co-founder and CEO James Reinhart says when the San Francisco-based startup researched the Canadian market, it found signs of "pent-up demand" from consumers who wanted an easier way to shop for used clothing and apparel. "I always thought that ThredUp was not solving just a U.S. problem," he said in a recent interview. "It's really a first-world opportunity, so the ability to expand to other countries was something we really wanted to do." Consignment clothing at a ThredUp facility. The company, which was founded in 2009, says it's on track to sell more than 10 million items this year. The website specializes in used women's and children's apparel, shoes and handbags at up to 80 per cent off the new retail price. ThredUp buys its inventory from people who send in bags of unwanted clothing, which the company reviews and then notifies the sender about how much they are willing to pay. The company began accepting Canadian orders earlier this month, and if all goes well, Reinhart says it would like to have distribution centres in Western and Eastern Canada so it could begin accepting items from Canadians. It also would like to open an office in Toronto, where one of the company's co-founders and current chief technology officer is from. Retail analyst Sally Seston says ThredUp will face stiff competition in Canada from shops such as Value Village, Salvation Army, Plato's Closet and Once Upon A Child and will also have to fight for shoppers' dollars with retailers such as Winners and Saks Off Fifth, which sell new clothing for less than the suggested retail price. A Value Village thrift second hand store in downtown Kamloops, British Columbia.
For the original version including any supplementary images or video, visit http://www.huffingtonpost.ca/2017/06/29/thredup-an-online-thrift-store-sets-up-shop-in-canada_a_23008329/
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