Journeys Launches Resale Program Powered by ThredUp
Journeys is the latest retailer to launch a secondhand shopping program.
The Genesco-owned shoe retailer on Monday unveiled its “Journeys Second-Hand” resale program, powered by resale platform ThredUp, which allows people to buy secondhand apparel directly from the retailer’s website. The program will also offer Journeys store credit to people who send in gently worn shoes, apparel and accessories from any brand to ThredUp via journeys.thredup.com.
The program marks ThredUp’s latest resale deal with a major retailer via its Resale-as-a-Service platform. ThredUp currently powers similar programs for more than 40 retailers including Adidas, PacSun, Crocs, Madewell and more.
“We’re picky about our partnerships because we know that teens are pretty picky about where they shop, as well as what they choose to wear,” said Journeys’ group president Mario Gallione in a statement. “ThredUp was the right partner for us to enter the resale market based on its ability to fulfill the needs of our core teen consumers and offer the brands, styles and trends they see on social media. But beyond adding value to our online capabilities, ThredUp’s platform also supports our larger corporate ESG initiatives.”
The global secondhand market is set to nearly double by 2027, reaching $350 billion, according to market data by GlobalData for ThredUp released in April. The secondhand market in the U.S. is expected to reach $70 billion by 2027. In 2022, more than half of U.S. consumers shopped secondhand apparel.
“We’re thrilled to see Journeys, a footwear retailer, leverage resale as a complimentary offering to its core business,” said ThredUp CEO James Reinhart in a statement. “Journeys is the retailer of choice for so many of today’s young consumers, many of which value individuality and sustainability. We’re proud to power a resale solution for a company that believes in the future of secondhand and is taking meaningful steps towards a more sustainable future.”
Genesco in May revised its yearly guidance after a challenging first quarter, which largely impacted the Journeys banner. Genesco board chair, president and CEO Mimi Vaughn said the company would close more than 100 Journeys stores in fiscal 2024, versus prior expectations to close 60 stores. Genesco said it anticipates up to $40 million in cost reductions, versus $20 million to $25 million prior, with $20 million realized in fiscal 2024 by these closures.