Transcript
Introduction
Patrick
My guest today is James Reinhart, founder and CEO of thredUP, an online thrift marketplace. ThredUP's online store is distinct in how the company touches every product, processing every piece of clothing at their own facilities instead of focusing solely on being a marketplace connecting buyers and sellers. We talk about the competitive advantages of building processing plants from the ground up, how James turned thredUP from having negative gross margins to very strong unit economics, and the future of retail more broadly. I hope you enjoy this great conversation with James Reinhart.
Origin Of thredUP
James, I think the best place to begin our conversation is for you to level set the audience by describing what thredUP does specifically. Just paint us a quick picture of the business because I think many won't be familiar.