Platforms II (Used Clothing)

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We've also previously noted how re-sale platforms are all the rage with the millennial demographic. At the time of this writing, in fact, four resale app platforms (Letgo, Poshmark, OfferUp, and Wish) are in the top 30 free apps in the Apple App Store. Sadly, this resale model doesn't appear to translate to brick-and-mortar. 2nd Time Around, a consignment retailer, appears to have shuttered its 40 boutiques in 12 states. The CEO is now, interestingly, a senior director at Alvarez & Marsal LLC. 

TheRealReal > 2nd Time Around. We hope.

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 TheRealReal plans to followup on the reported success of its Manhattan-based pop-up with a brick-and-mortar location in SoHo. This is good news for those who feel as retail has absolutely nothing positive going for it these days. 

That said, we can't help but wonder if the sudden and shocking closure of 2nd Time Around might have a negative effect on this initiative, as consignors got BURNED. Time will tell, we suppose, but those looking to enter into consignment agreements ought to protect themselves accordingly.