Some brands fare better at their second sale. Wet Seal, BCBG and Bebe may be closing stores, but these brands also are among the fastest-growing in resale value, according to data from online thrift store ThredUp.
Kathleen Weng, vice president of merchandising, said, “In researching our quarterly brand report to determine what’s trending, we were surprised and pleased to find that many mall brands are actually thriving on ThredUp.”
The online site – which has more than 14 million users – found that demand for Wet Seal is growing two times faster than baseline brands. Millennial mall brands targeting a younger demographic — especially those that are higher priced — seem to fare better on resale, with many showing a high percentage of sales within three months of being listed on ThredUp.com.
Ranking first among ThredUp’s top brands is Crocs, where the percentage of shoes that sold within three months of listing is 97 percent, with nine out of 10 Crocs selling within 18 days of listing. In April, the site said Crocs resold at a rate that was 58 percent faster than ThredUp’s daily average. The company attributed that in part to the Drew Barrymore effect, as Barrymore and John Cena are in the brand’s new campaign called “Come As You Are.” Barrymore is wearing the brand’s new Isabella sandals. Over the past three months, the 30-day sell through of Crocs on the online thrift site rose to 90 percent from 67 percent.
ThredUp’s data also had Anthropologie ranked second at 96 percent, following by its sibling Free People at 95 percent. H&M was fourth at 91 percent, followed by Madewell at 89 percent to round out the top five.
Other brands and percentage of sale within three months include: Wet Seal, 89 percent; American Apparel, 88 percent; Urban Outfitters, 84 percent; Zara, 82 percent; Abercrombie, 81 percent; BCBG, 77 percent; The Limited, 73 percent; Guess, 73 percent, and Bebe, 66 percent.
The resale information also provided some data points to the growth rate of certain brands following company announcements of store closures. Wet Seal is up 236 percent; Bebe is up 63 percent and is currently in the process of closing 170 stores, and BCBG’s growth rate is up 106 percent. Wet Seal, which detoured into bankruptcy court, is now owned by Gordon Brothers. BCBG is currently immersed in bankruptcy proceedings. Bebe is currently shuttering all stores to focus its efforts online, and seems to have averted a bankruptcy filing through negotiated deals with landlords.
In comparison, the higher-price mall brand Abercrombie & Fitch, now targeting an older Millennial, has a resale growth rate of just 2 percent.
More From WWD: