The resale retail sector, once considered a niche market fueled by thrifty shoppers and vintage enthusiasts, has emerged as a multibillion-dollar industry. As just one data point, ThredUp, a quiet powerhouse in the space, has processed over 220 million secondhand clothing items to date. Behind the digital racks of its 4-million-item inventory lies a sophisticated data operation transforming how consumers shop for pre-owned fashion. “We are a very data-driven operational company,” ThredUp Chief Product and Technology Officer Dan DeMeyere told PYMNTS

After three years of ownership, secondhand clothing marketplace ThredUp has sold Remix, its European reCommerce platform. The company announced the divestiture Tuesday (Dec. 3), the results of a management buyout led by Florin Filote, general manager of Remix. The deal sees ThredUp retaining a minority interest in Remix, with the company also giving Remix a final investment of $2 million. “This is a mutually beneficial outcome for both ThredUp and Remix,” ThredUp Co-Founder and CEO James Reinhart said in a news release. “We are confident that Remix will thrive under Florin Filote’s leadership and the team’s expertise

ThredUp acquired Remix in July 2021, a $28.5 million deal designed to give it a foothold in the then-emerging European resale market, while providing the Bulgaria-based Remix with the resources to scale faster than it would on its own.