The trendy second-hand clothing market is huge and still growing – yet nobody is turning a profit
For example, neither the American company ThredUp nor its luxury cousin The RealReal are profitable, disappointing investors and dragging share prices below their IPOs. In 2022, less than two years after going public, the American peer-to-peer resale site Poshmark was acquired by a Korean tech company for $1.2bn (£950m), one-sixth of its IPO valuation. While […]
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