SoulCycle Announces “SoulCycle Heritage,” a Resale Program Enabled by thredUP’s Resale-as-a-Service®
Lifestyle fitness brand SoulCycle launches platform for customers to shop and resell heritage apparel
APRIL 7, 2023 (New York AND Oakland, Calif.) – SoulCycle, the transformational full-body fitness experience with over 60 studios and thredUP (NASDAQ: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories, today announced “SoulCycle Heritage,” a resale program that allows customers to shop gently-worn products from its website for SoulCycle shopping credit. “SoulCycle Heritage” is powered by thredUP’s Resale-as-a-Service® (RaaS®), which enables the world's leading fashion brands and retailers to deliver customizable, scalable resale experiences to their customers. This alliance builds upon SoulCycle’s continued commitment to sustainability.
“We are happy to introduce “SoulCycle Heritage” to our riders and communities. Not only are we directly reducing textile waste, but it’s a simple, convenient opportunity for our riders to keep clothing in circularity, all while providing quality SoulCycle apparel they love,” said Samantha Yeager, Director of Retail Supply Chain at SoulCycle.
Notably, Soul by SoulCycle clothing in addition to popular collaborations will be available, so all can have access to beloved collections of years past for the first time. Through “SoulCycle Heritage,” customers can now purchase second hand apparel, shoes, and accessories from SoulCycle directly at soul-cycle.thredup.com. Customers can also earn SoulCycle shopping credit for sending in gently-worn items to thredUP. To participate, customers generate a prepaid shipping label from soulcycle.thredup.com, fill a shippable box or bag with apparel, shoes, and accessories from any brand in their closet, and ship it to thredUP for free. For items that sell on thredUP, customers receive SoulCycle merchandise credit that is 10 percent higher than the cash payment option and can be used online.
“Resale is an opportunity for so many brands and retailers, even those outside of the traditional fashion space, to further sustainability goals and reach new customers,” said James Reinhart, CEO of thredUP. “We're thrilled to help SoulCycle take a meaningful step towards their goal to be carbon neutral by 2024 by powering their new resale program through RaaS and providing customers with a simple way to give SoulCycle garments a second life.”
For more information, please visit soulcycle.thredup.com. To learn more about thredUP's RaaS, visit raas.thredup.com.
About SoulCycle
SoulCycle is the leading lifestyle brand that redefines health and happiness through unique mind-body-soul experiences. Thousands of riders take SoulCycle classes every day to ride through struggles, strengthen their bodies, empower their minds and find joy in movement to become the best version of themselves. SoulCycle was founded on a few simple ideas: That fitness could be a physical, musical and inspirational experience, and one that you look forward to. With transformative class offerings, a devoted and loyal community, world-class, one-of-a-kind instructors, and unparalleled hospitality within our studios, SoulCycle serves an important purpose: move people to move the world. SoulCycle transformed boutique fitness with the launch of its signature indoor cycling class in New York City in 2006, and has since continued to innovate and grow for its community. There are currently more than 60 studios across the U.S. and London. In addition to offering a one-of-a-kind fitness experience, studios are popular retail destinations, including the brand's own proprietary fitness and leisure apparel collection, Soul by SoulCycle.
About thredUP
thredUP is transforming resale with technology and a mission to inspire a new generation of consumers to think secondhand first. By making it easy to buy and sell secondhand, thredUP has become one of the world's largest online resale platforms for apparel, shoes and accessories. Sellers love thredUP because we make it easy to clean out their closets and unlock value for themselves or for the charity of their choice while doing good for the planet. Buyers love shopping value, premium and luxury brands all in one place, at up to 90% off estimated retail price. Our proprietary operating platform is the foundation for our managed marketplace and consists of distributed processing infrastructure, proprietary software and systems and data science expertise. With thredUP's Resale-as-a-Service, some of the world's leading brands and retailers are leveraging our platform to deliver customizable, scalable resale experiences to their customers. thredUP has processed over 137 million unique secondhand items from 55,000 brands across 100 categories. By extending the life cycle of clothing, thredUP is changing the way consumers shop and ushering in a more sustainable future for the fashion industry.