UPDATE 1J. Crew brand launches resale programs to offer vintage styles

(Adds background and details on the program, as well as executive comments)

Jan 17, 2017 (Reuters) – J. Crew Group revealed Tuesday that it launched a new program to resell its eponymous brand. The program will include vintage apparel and used styles in select J. Crew stores.

The company’s “J. Crew Always’s new “J.

Liz Hershfield, senior vice president & head of sustainability for J. Crew Group announced the new program at the National Retail Federation’s Big Show in New York.

J. ThredUp will accept items from the crew in return for credit.

Hershfield announced that the brand’s vintage styles, which date back to the 1980s and ’90s, will be exclusively available at the Bowery and Fifth Avenue locations in New York.

J. Crew Group has seen its resale sales business grow over the past two years. ThredUp, a ThredUp partner, was formed in 2021. ThredUp allowed the company to sell pre-owned clothes from Madewell. This allowed customers to trade in their unwanted products to receive store credit.

Hershfield stated that although the future is not in the realm of resale, the ultimate goal was to create a circular business that can prolong the product’s life and make it profitable.

Brian Ehrig, a partner with global consulting firm Kearney said there was not a common consensus among analysts as to how large the resale industry could grow.

Ehrig, who was on the same panel with Hershfield, said that brokerage Morningstar had estimated that it could grow to $300 billion by 2031.

J. Crew Group is one of many retailers (IKEA, Lululemon Athletica Inc) that have added resale programs in recent years. (Reporting by Kate Masters, New York; additional reporting by Deborah Sophia, Bengaluru; Editing done by Shailesh Kuber & Maju Samuel.