SAN FRANCISCO – Apparel firm Gap Inc., has partnered with consignment company ThredUp to encourage customers to return unwanted garments in exchange for shopping credit to be redeemed at Gap, Banana Republic, Athleta or Janie and Jack.
“As the resale revolution continues to gain momentum, participating in re-commerce is not only good for our planet, but good for business,” said Mark Breitbard, president, Gap Inc. Specialty Brands.
With the launch of a Resale-as-a-service (RAAS) programme, Gap hopes to capitalise on growing consumer appetite for second-hand apparel – a ThredUp report estimates this market to double its value of US$24 billion within the next five years.
