Treet, a US startup reimagining the resale market for fashion retailers, has raised a total of $3.5 million in another seed funding round. In May 2021, the San Francisco-based company had already received $2.8 million in a similar campaign.
Treet’s approach is to simplify the resale market for consumers and brands and reduce friction. Instead of leaving the second-hand business to specialized dealers, Treet wants to encourage brands to take this step themselves. Essentially, Treet helps brands set up their own resale pages where buyers and sellers can list and find items. Since Treet is connected to the brand itself, sellers can easily list their items by SKU and buyers can have confidence that the items they are looking at are genuine.
“Today’s fashion industry operates on a linear business model. Brands sell an item to consumers and then lose sight of them. The turnover is only achieved once. Reselling branded items puts used clothing back on the market, creating a circular business model. One and the same item creates multiple revenues with less impact on the environment,” the company’s press release said.
This offers brands the opportunity to control their second-hand market themselves, set minimum prices and potentially win new customers. Brands can also increase their own sales by combining the offer with brand credits.
Treet can develop from peer-to-peer resale to fully managed take-back programs or combinations of both, depending on the brand’s needs. The company handles the integration, shipping, customer support, and marketing to ensure the success of the resale program.
“Treet’s platform makes reselling branded items a must for e-commerce businesses looking for a meaningful way to grow while becoming more sustainable,” it continues.
Past brand partners include brands such as Doen, Cuts, Boyish, tentree, The Beaufort Bonnet Co., Nooworks and Bryr.