Subject: LIC
Michael Stars Sets Out to Extend the Life of Clothes with New Apparel Clean Out Enabled by thredUP's Resale-as-a-Service?
OAKLAND, Calif. and LOS ANGELES, Sept. 15, 2021 /PRNewswire/ -- Michael Stars, the apparel and lifestyle company, and ThredUp Inc. (NASDAQ: TDUP), one of the largest online resale platforms for women's and kids' apparel, shoes, and accessories, today announced that thredUP will power resale for Michael Stars through its Resale-as-a-Service? (RaaS?) platform. The deal will facilitate apparel clean out in an effort to reduce the number of clothing items thrown away in the U.S. each year ? 95 percent of which could be recycled or reused. Michael Stars joins some of the world's leading brands and retailers who deliver customized, scalable resale experiences to their customers through thredUP's RaaS?, including GAP, Madewell, and Reformation.
"The secondhand market is booming, and participating in the resale economy is becoming table stakes for retailers," said Suzanne Lerner, Cofounder and President of Michael Stars. "thredUP is transforming resale and writing the playbook for how brands can enable resale at scale, and we're thrilled to partner with them to debut Michael Stars' resale program and better service customers and the environment."
"Michael Stars is well-known for its timeless styles that are made to last and therefore have excellent resale value," said Pooja Sethi, Senior Vice President and General Manager of RaaS? at thredUP. "thredUP is thrilled to support their newest initiative to encourage more circular habits among consumers. By powering apparel Clean Out through our Resale-as-a-Service, we aim to help keep clothes in use longer and out of landfills."
Michael Stars customers can generate a prepaid shipping label from thredup.com/cleanout/michaelstars, fill any shippable box with apparel, shoes, and accessories from any brand, and ship it to thredUP for free. thredUP pays the seller for items that meet quality standards and are sold on thredup.com in Michael Stars credit. Michael Stars' resale experience is powered by thredUP's RaaS? technology, software, and logistics. Read more about thredUP's RaaS? here.
The deal aligns with Michael Stars' mindful approach to circularity. They use sustainable fabrics whenever possible, and more than 85% of their garments are made in Michael Stars' hometown of Los Angeles to ensure the quality of product and the reduction of their carbon footprint. The brand recently celebrated its 35th year anniversary and is always receiving stories from fans who have had their Michael Stars tees for decades. Learn more about Michael Stars' commitment to quality here.
About Michael Stars
Michael Stars is a world-famous clothing brand out of Los Angeles that was formed by husband-and-wife team Michael Cohen and Suzanne Lerner. What started with an iconic, one-sized tee that created a fashion movement, and has evolved into a collection of contemporary and quality essentials. For over 20 years, the Michael Stars Foundation has been supporting and funding grassroots organizations providing critical pathways to equality in the United States and around the world. To learn about their current efforts which include tees that benefit Gloria Steinem's Ms. Foundation and Patricia Arquette's Give Love organization, visit: https://www.michaelstars.com/
Media Contact
Juan Cardoza
Krupp Group
[email protected]
About thredUP
thredUP is transforming resale with technology and a mission to inspire a new generation of consumers to think secondhand first. By making it easy to buy and sell secondhand, thredUP has become one of the world's largest resale platforms for women's and kids' 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. In 2018, we extended our platform with thredUP's Resale-As-A-Service (RaaS?), which facilitates modern resale for a number of the world's leading brands and retailers. thredUP has processed over 125 million unique secondhand items from 35,000 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.
Media Contact
Christina Schultz
thredUP
[email protected]
Forward Looking Statements
This release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "predict" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and assumptions. Except as required by law, thredUP has no obligation to update any of these forward-looking statements to conform these statements to actual results or revised expectations.
SOURCE thredUP
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