, Ruben said the funding will help Yerdle expand in the luxury fashion business that is currently dominated by The RealReal, which recently went public.Click here for more BI Prime storiesUsed clothing and accessories is a billion dollar business, and a new startup is helping traditional retailers cash in.
Where Yerdle differs from other used-clothing platforms is in the way it works with the original retailers – allowing them to take advantage of the boom in consumers buying used and otherwise pre-worn outfits. By helping those traditional retailers get in on the game, Ruben says, he's opening up whole new markets to them. Ruben highlights Worn Wear, Patagonia's resale brand, as a particular success story for his company.
"There's an aspirational element among Millennials and Gen Zs and those brands might be out of reach," Ruben said. "You also have people wearing items fewer times because you see them on Instagram."newly public The RealReal to changing these customer tastes That's especially true, he says, because retailers like Patagonia don't get a cut when you buy from those third-party sites. It makes it more important than ever for retailers to offer their own used-goods business, he says.