Smartwool Announces “Second Cut Resale,” a Resale Program Enabled by thredUP’s Resale-as-a-Service®

September 26, 2023

Resale program is part of Smartwool’s efforts to eliminate textile waste and move to a more circular business model

September 26, 2023 (Denver, CO and Oakland, Calif.)/OUTDOOR SPORTSWIRE/ – Smartwool, a manufacturer of Merino wool-focused products for active living, and thredUP (NASDAQ: TDUP, LTSE: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories, today announced “Second Cut™ Resale,” a program that allows customers to shop secondhand products at www.smartwool.thredup.com and resell gently-worn items on thredup.com for Smartwool shopping credit. “Second Cut™ Resale” is powered by thredUP’s Resale-as-a-Service® (RaaS®), which enables the world’s leading fashion brands and retailers to deliver customizable, scalable resale experiences to their customers.

“We are excited to launch the next phase of the Smartwool Second Cut™ Project and further our circularity efforts with thredUP. Second Cut™ Resale offers the Smartwool customer an easy way to resell their gently used clothing and shop pre-loved Smartwool® products. Through this program, we aim to provide even more value to our customers all while doing good for the planet,” says Denise Anderson, Head of Global Brand at Smartwool.

Through “Second Cut™ Resale,” customers can purchase secondhand women’s and kids’ apparel and accessories at www.smartwool.thredup.com. Customers can also earn Smartwool shopping credit for sending in gently worn items. To participate, customers can generate a prepaid shipping label at www.smartwool.thredup.com, fill any shippable box or bag with apparel, shoes, and accessories from any brand in their closet, and ship it to thredUP for free .^[1] Sellers who receive Smartwool credit for eligible items that sell in the listing window will earn an extra 15 percent bonus on their payout in the form of a gift card to be used on smartwool.com.

“Smartwool’s commitment to a more circular business model is apparent from its initial Second Cut Project the company launched two years ago, and we’re honored that they’ve chosen thredUP’s RaaS to double down on their efforts,” said James Reinhart, CEO of thredUP. “Smartwool apparel is quality-made and built to last, and it comes as no surprise that the brand performs incredibly well in the secondhand market.”

Smartwool’s resale program powered by thredUP’s RaaS is part of the brand’s broader sustainability initiatives to shift toward a more circular business model. This April, Smartwool released its first circular designed hike sock made with repurposed yarn from collected socks from the brand’s Second Cut™ sock takeback program, a year-round initiative that launched in 2021. The Second Cut™ project empowers Smartwool consumers to be a part of the solution to the apparel industry’s textile waste problem by donating their old socks – one of the most discarded pieces of apparel. Since the launch of this program, Smartwool has collected 1.07 million consumer socks, equaling around 86,503 pounds of socks diverted from landfills.

For more information, please visit www.smartwool.thredup.com. To learn more about thredUP’s RaaS, visit raas.thredup.com.

About Smartwool

Based in Denver, Colorado, Smartwool® is a sock and apparel brand whose products are designed to get the most out of the inherent benefits of Merino wool and to bring comfort, confidence, and community to a life lived outside. For information on the full range of Smartwool® products or to find a dealer near you, please visit www.Smartwool.com. Smartwool, a division of VF Outdoor, LLC, is a brand of VF Corporation.

To participate in Smartwool’s Second Cut™ takeback program, consumers can add a pre-paid, mail-in bag to their cart at checkout and send in used socks for recycling.

About thredUP

thredUP is transforming resale with technology and a mission to inspire a new generation of consumers to think secondhand first. By making it easy to buy and sell secondhand, thredUP has become one of the world’s largest online resale platforms for apparel, shoes and accessories. Sellers love thredUP because we make it easy to clean out their closets and unlock value for themselves or for the charity of their choice while doing good for the planet. Buyers love shopping value, premium and luxury brands all in one place, at up to 90% off estimated retail price. Our proprietary operating platform is the foundation for our managed marketplace and consists of distributed processing infrastructure, proprietary software and systems and data science expertise. With thredUP’s Resale-as-a-Service, some of the world’s leading brands and retailers are leveraging our platform to deliver customizable, scalable resale experiences to their customers. thredUP has processed over 172 million unique secondhand items from 55,000 brands across 100 categories. By extending the life cycle of clothing, thredUP is changing the way consumers shop and ushering in a more sustainable future for the fashion industry.

Contacts

Backbone Media

Tyler Stephenson

tyler.stephenson@backbone.media

thredUP

Kayla Johnston

media@thredup.com

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