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Online used clothing company ThredUp is the ‘Amazon of re-sale,’ Barclays says

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thredUP Co-Founder & CEO James Reinhart speaks onstage during TechCrunch Disrupt San Francisco 2019 at Moscone Convention Center on October 02, 2019 in San Francisco, California.

Kimberly White | Getty Images Entertainment | Getty Images

The booming re-sale fashion market has a clear leader in ThredUp, Barclays said in a note on Tuesday.

The firm initiated coverage of the stock with an overweight rating, comparing the company’s business model and market-position to the early days of Amazon.

“TDUP is a leading mass-market player in the rapidly growing apparel and accessories resale e-commerce space,” the note said. “Its business model built around proprietary logistics infrastructure and razor-thin contribution profit per item reminds us of Amazon in the early days, when heavy upfront investments assured high customer service levels and retention.”

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