Men’s wear online resale destination Grailed is pulling the plug on its women’s offshoot. Heroine, a resale platform for women’s fashion and accessories that was founded in 2017, will officially go offline in early December.
The announcement to users today follows months of speculation about Heroine’s future, as the site did not seem to capture Grailed’s success and devoted fan base.
Heroine, with its wistfully scrawled logo and content centered around women’s fashion, had attempted to capture some of Depop and The RealReal’s stylish, label-conscious user base. But it failed to differentiate itself from Grailed, with the company saying today that 68 percent of Heroine’s users are also active on Grailed.
“As the resale landscape continues to evolve, we see a need to invest more deeply in building out first-in-class tools and user experiences under one unified platform. With this in mind, we’ve made the difficult decision to close Heroine,” reads a letter to users that was sent out today.
The site appears to be the first casualty of the online resale boom, one of the few fashion retail categories to see accelerated sales during the pandemic.
Since its founding in 2013, Grailed has become a trusted destination for preowned men’s wear and rare streetwear editions — a site where one can track down a rare jodhpur-style pant from a niche Japanese label or a Supreme T-shirt from the brand’s earlier era.
The consumer-to-consumer site, founded by Jake Metzger, Julian Connor and Arun Gupta (who still serves as the company’s chief executive officer), has more than 3 million user-generated listings. But despite its dedicated following and sign-off from the men’s wear fashion community, Grailed’s operations are still relatively small compared with sites like The RealReal, Poshmark and Depop — all of which were founded around the same time.
It seems like Grailed’s founders are hoping to change that. In September, Grailed took a $60 million series B investment led by the sneaker resale platform Goat Group, as well as the Kering-backed investment fund Groupe Artémis and a personal investment from Gucci CEO Marco Bizzarri.
While Grailed appears to have benefited from the COVID-19 online shopping boom, Heroine did not see the same enthusiasm from shoppers. Grailed’s female user base is relatively small — making women’s categories an important growth avenue, particularly now with added pressure from investors to scale operations.
“The landscape has continued to evolve over the last four years since launching Heroine and as a result, we have seen a shift that has brought more female users to Grailed. In order to provide our entire community with first-in-class tools and experiences across our platforms, we’ve made the decision to close Heroine…and consolidate [it] under the Grailed brand,” said the letter to users.
Heroine users have until Nov. 8 to either complete transactions or migrate listings over to the Grailed platform. After Dec. 8, all transactions on the site will be deleted, and Grailed says all Heroine user data will be deleted, and will not be sold to third-party entities.