Yesterday, Macy’s and Thredup announced their partnership which will bring ThredUp into at least 40 Macy stores across the US to sell secondhand goods and today we are stunned to hear that JCPenney is jumping into the same partnership which will bring ThredUp into at least 30 locations across the US.
JCPenney announced the news on the same day as they announce smaller losses than the year before and this will allow them to rebuild their business which if you have been to any of the few still standing locations, something needs to be done and soon.
I understand why everyone is jumping on the resale wagon, there’s a ton of money to be made but I believe that partnerships have to make sense.
Take Fashionphile and Nieman Marcus. Nieman Marcus actually purchased a small part of Fashionphile and their business model is bringing in people to sell their bags to Fashionphile and receive cash or a gift card to shop at Nieman Marcus. Win With
With ThredUp, they are partnering with retail chains that sell at a much lower price point and while they are staying within brand, with the recent shuttering of JCPenney locations and the dismal earnings for both within this past week, it doesn’t seem to be on the right side of success.
Theory, while i did not read any financials on either retail stores, I think ThredUp is looking to partner with whomever they can to make themselves look good enough to be bought out. We’ll see!