January 29, 2015
Call it consignment for online shoppers. Threadflip, a social marketplace and e-commerce platform allows users to buy, sell and find pre-worn women’s clothing, shoes, bags, and other accessories.
“Threadflip is the first and only fashion ecommerce platform to develop full web and mobile experiences for both consignment and peer-to-peer consignment,” reads an excerpt from a press release.
As of now, Threadflip is the only social marketplace that is dedicated to consignment items that has both a website and app.
“Their recent rebranding efforts across web and mobile reflect a fresh, new aesthetic as reflected in the fact that the redesigned iOS app was one of the first to be fully integrated with Apple Pay,” reads and excerpt from their release.
Here’s what you should know about how Threadflip Works:
- An Easy Upload: Users upload images of pieces straight from their closet and can sell items they no longer wear.
- Full Service Feature: “Threadflip’s new Full Service feature allows women to receive a kit including mailing materials and instructions on how to select and send in their unused and pre-loved items,” says Manik Singh, the Founder and CEO of the company.
- Endless Options: “Thousands of new pieces are added every day, making it a great spot for snagging high-quality consignment pieces without paying full-price,” says Singh,.
- Competitive Payout Rates: Threadflip “makes their tiered pricing model public, offering both exceptional value and full transparency to their sellers,” reads an excerpt from a press release.
- Consumer First Mentality: “Consumers are starting to be more aware of what they consume, how often, and whether they are replacing an item or merely adding more similar items to their wardrobe. It is shift in consumer behavior that keeps us excited and focused on the future of Threadflip and online consignment,” says Singh.
Additional features include optimized for all devices, including iPhone 6 and iPhone 6 Plus; a brand New Profile Page, for you to manage your closet with ease; and the ability to quickly filter down to more specific item categories and improved search.
While there are a number of e-commerce brands and platforms, Threadflip differentiates itself through two things: it’s a social marketplace and it accepts both high-end and mass-market brands. Threadflip is also the only online consignment marketplace that offers both a peer-to-peer and Full Service selling experience
According to a release, “Threadflip is a social commerce experience, with all products being grouped to the digital “closet” of the seller. This allows buyers to see sellers’ overall styles, get inspired, follow their favorites and access ratings to make confident purchases.”
More about Threadflip and their Team
Threadflip was founded in 2011, and between April and June 2012 the company raised more than 8 million dollars.
Along with Singh, the team includes Jeff Shiau, the cofounder and CTO, Anand Iyer, the Chief Product Officer and Meghan Cast is the VP of Marketing.
Singh and his team have been working on Threadflip for almost four years, which means he can offer advice to anyone who wants to work in the fashion and tech spaces.
“…Starting a business in this field, understanding how these two aspects of the business compliment and push back on each other is vital to success,” says Singh. “It’s a beautiful synergy, truly, if you get the right minds in the same room.”
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