Dive Brief:
- Kate Spade New York announced its “pre-loved” program last week which allows customers to purchase and trade in secondhand products on its branded site using the ThredUp platform.
- Participants have the opportunity to earn Kate Spade shopping credit upon turning in gently used womens’ and kids’ items from eligible brands in exchange for the credit, according to an email shared with Retail Dive.
- This is ThredUp’s third retail-as-a service deal this year. The company announced similar deals with J. Crew and Francesca’s earlier this year.
Dive Insight:
In commemoration of the brand’s 30-year anniversary, Kate Spade New York joins more than 40 retailers working with ThredUp to bring used goods to market via its resale-as-a-service platform, the company said.
“We continue to identify ways that our brand can show up for our community and help minimize our footprint on the planet,” Kate Spade New York CEO and Brand President Liz Fraser said in a press release. “We are thrilled to partner with thredUP, a company that shares our values, to work towards a more responsible future.”
Circular fashion is continuing to evolve in the retail space with more and more brands exploring the option of resale. Last year, ThredUp released a report that estimated that the U.S. secondhand market will more than double by 2026 to reach $82 billion.
ThredUp CEO James Reinhart said in a statement that Kate Spade New York is one of the most popular brands in the resale market making it “an exciting opportunity” for the brand to attract new customers.
“Kate Spade New York has made itself a household name by offering classic and feminine pieces designed to be timeless,” Reinhart said in a press release. “We are honored to power Kate Spade New York ‘Pre-Loved’ through our RaaS platform and support the brand as it embraces resale.”
The site offers secondhand bags, wallets and clothing from Kate Spade New York. The company said all items are authenticated by ThredUp through a rigorous 12-point inspection from trained authenticators and a merchandising team. High-priority items from some designer brands, including Kate Spade, are screened by another set of specially trained authenticators.
After printing a free shipping label and dropping off items at USPS or FedEx, payouts are 3%-80% of the sell price for eligible brands. Items not accepted are either recycled or returned.
ThredUp also collects the items they sell through their Clean Out Kit service. Users order a kit and receive a shipping label in order to send in their items.
