The resale market continues to grow. Millions of dollars of sneakers are resold on eBay each year and the reseller market for iconic brands like Supreme has never been stronger. It should come as no surprise that venture capital firms have invested millions of dollars into fashion resale in 2015, with total funding over the past five years reaching over $400 million, Bloomberg reports.
Last month the secondhand fashion marketplace ThredUp, raised $81 million more in financing led by Goldman Sachs, bringing its total funding to more than $131 million. While it's perhaps the largest round of funding yet, it is by no means an isolated event with other companies such as Tradesy, RealReal, Poshmark, and Vestiaire Collective all receiving major investments this year.
"It's a category that's very much winner-take-all," said James Reinhart, founder of ThreadUp. "VCs know that if they pick the winner, it'll have a long-term sustainable advantage."