New York (CNN Business)Walmart on Wednesday announced a partnership with resale platform ThredUp to sell previously owned branded clothing, shoes, handbags and more online.
This marks the first foray by Walmart (WMT), the world’s largest retailer, into the clothing resale market. The company said it started planning the initiative a year ago and launched it at a time when the pandemic has forced many households to become even more budget conscious amid widespread furloughs and job losses.
Walmart’s resale push, which follows similar efforts by retailers such as Nordstrom (JWN) and Abercrombie & Fitch (ANF), should also appeal to millennial consumers who are increasingly driven by environmentally conscious shopping choices, Denise Incandela, head of fashion e-commerce with Walmart.com, said in a statement.
Walmart is now selling previously-owned fashion clothing, shoes and handbag brands for the first time through a partnership with ThredUP.The collaboration with ThredUP, she said, would add to the mix other fashion brands not sold at Walmart. Those include labels such as Coach, Nike, Calvin Klein and Michael Kors.Read MoreWalmart said as many as 750,000 resale items are being curated by ThredUP that are deemed “new” or “like new.” The resale merchandise will only be sold on Walmart.com and not in stores, for now. But shoppers can return their items for free at Walmart stores or to ThredUP, and will also get free shipping once they hit a threshold of $35.Nike's new ad with LeBron James wants people to know there's hopeThe retailer already sells a large assortment of fashion merchandise, including national brands like Levis and Champion, private label brands, and more recently a new collection from 80’s denim label Jordache.
“Over the last few years, we’ve focused on expanding our assortment of quality, on-trend, accessible fashion to help customers outfit themselves no matter their personal style or budget,” said Incandela.Correction: An earlier version of this story incorrectly described Walmart’s previous involvement in the resale market.
Source: edition.cnn.com
