Dive Brief:
- Amid its efforts to reach new customers, ThredUp has named Danielle Vermeer to the newly created role of head of social commerce, the secondhand apparel company announced Tuesday.
- Starting in January, Vermeer will lead ThredUp’s efforts to reach more potential resale customers by providing “innovative shopping experiences,” the company said.
- Vermeer is also the co-founder and CEO of Teleport, a social commerce app for buying and selling used clothing, which will cease operations later this month. She also previously served as a product leader at Amazon, where she oversaw the launch of Amazon Fashion’s luxury resale product and business.
Dive Insight:
ThredUp is eyeing the social commerce space with its latest hire.
The company highlighted Vermeer’s more than 13 years of experience in resale, e-commerce and fashion technology as appealing, particularly her work with the Teleport platform, which featured AI search and discovery, peer-to-peer resale and social features like follows, likes and comments. Upon shuttering Teleport, any users who are new to ThredUp will receive exclusive discounts.
ThredUp has also harnessed AI to enhance its product discovery functionality. In August, the company announced that it is using AI for natural language-based text searches and image searches, as well as for an AI chatbot that provides styling advice for customers.
“We are always building and innovating beyond our core business to make thrifting easier and more fun for everyone,” ThredUp co-founder and CEO James Reinhart said in a statement regarding Vermeer’s appointment. “Danielle’s impressive track record in building engaging resale platforms, coupled with her deep understanding of the secondhand industry, makes her a valuable addition to the team.”
ThredUp is trying to reach more consumers and improve its shopping experience as the secondhand fashion market is predicted to rise. Earlier this year, the resale platform released a report predicting that the used apparel market will reach $73 billion by 2028 in the U.S. and $350 billion globally by that year.
Though ThredUp has projected growth in the used apparel market, the company in its latest quarter reported that revenue fell by 11% year over year to $73 million. In the U.S., Q3 revenue dropped 10% year over year to $61.5 million. Active buyers dropped 7% and orders fell 14% when compared to the year-ago quarter.
The company also signed a nonbinding term sheet for a buyout of its European business, Remix, by Florin Filote and the Remix management team. Filote was brought on by ThredUp in May to become its general manager of Europe. ThredUp in August said it would exit Europe.
