Your Old Clothes Are Worth Billions
Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,766,872 (+0.21%)       Melbourne $1,063,597 (+0.19%)       Brisbane $1,235,996 (-0.71%)       Adelaide $1,100,588 (+1.40%)       Perth $1,114,234 (+0.36%)       Hobart $869,301 (-0.74%)       Darwin $915,158 (+0.08%)       Canberra $1,030,597 (+1.34%)       National Capitals $1,197,064 (+0.25%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $817,869 (+0.11%)       Melbourne $552,138 (-0.21%)       Brisbane $784,920 (-1.69%)       Adelaide $585,744 (+1.59%)       Perth $658,340 (-1.87%)       Hobart $565,063 (-1.53%)       Darwin $494,206 (+0.53%)       Canberra $485,800 (-1.53%)       National Capitals $640,344 (-0.70%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 14,003 (-141)       Melbourne 16,852 (-119)       Brisbane 7,876 (+60)       Adelaide 2,794 (-13)       Perth 6,084 (+33)       Hobart 771 (-22)       Darwin 139 (+2)       Canberra 1,196 (+25)       National Capitals 49,715 (-175)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 9,308 (-9)       Melbourne 6,777 (-31)       Brisbane 1,556 (-5)       Adelaide 434 (-6)       Perth 1,292 (+16)       Hobart 154 (-9)       Darwin 198 (+7)       Canberra 1,191 (+1)       National Capitals 20,910 (-36)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $850 ($0)       Melbourne $600 ($0)       Brisbane $700 ($0)       Adelaide $650 ($0)       Perth $750 ($0)       Hobart $628 (+$3)       Darwin $850 ($0)       Canberra $750 ($0)       National Capitals $733 (+$)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $800 ($0)       Melbourne $590 ($0)       Brisbane $670 ($0)       Adelaide $560 (+$5)       Perth $700 ($0)       Hobart $503 (-$38)       Darwin $650 ($0)       Canberra $600 ($0)       National Capitals $646 (-$2)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 5,466 (-47)       Melbourne 6,685 (-129)       Brisbane 3,539 (-24)       Adelaide 1,337 (+2)       Perth 2,237 (-54)       Hobart 240 (+8)       Darwin 38 (-10)       Canberra 431 (+10)       National Capitals 19,973 (-244)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 8,715 (+45)       Melbourne 4,547 (+16)       Brisbane 1,877 (-18)       Adelaide 430 (0)       Perth 686 (+10)       Hobart 66 (-5)       Darwin 65 (-5)       Canberra 721 (+2)       National Capitals 17,107 (+45)                HOUSE ANNUAL GROSS YIELDS AND TREND         Sydney 2.50% (↓)       Melbourne 2.93% (↓)     Brisbane 2.94% (↑)        Adelaide 3.07% (↓)       Perth 3.50% (↓)     Hobart 3.75% (↑)        Darwin 4.83% (↓)       Canberra 3.78% (↓)       National Capitals 3.19% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND         Sydney 5.09% (↓)     Melbourne 5.56% (↑)      Brisbane 4.44% (↑)        Adelaide 4.97% (↓)     Perth 5.53% (↑)        Hobart 4.62% (↓)       Darwin 6.84% (↓)     Canberra 6.42% (↑)      National Capitals 5.24% (↑)             HOUSE RENTAL VACANCY RATES AND TREND       Sydney 1.4% (↑)      Melbourne 1.5% (↑)      Brisbane 1.2% (↑)      Adelaide 1.2% (↑)      Perth 1.0% (↑)        Hobart 0.5% (↓)       Darwin 0.7% (↓)     Canberra 1.6% (↑)      National Capitals $1.1% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 1.4% (↑)      Melbourne 2.4% (↑)      Brisbane 1.5% (↑)      Adelaide 0.8% (↑)      Perth 0.9% (↑)      Hobart 1.2% (↑)        Darwin 1.4% (↓)     Canberra 2.7% (↑)      National Capitals $1.5% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND         Sydney 33.5 (↓)       Melbourne 32.6 (↓)     Brisbane 33.4 (↑)      Adelaide 26.4 (↑)        Perth 37.8 (↓)       Hobart 29.4 (↓)     Darwin 27.8 (↑)        Canberra 30.0 (↓)       National Capitals 31.4 (↓)            AVERAGE DAYS TO SELL UNITS AND TREND         Sydney 31.4 (↓)       Melbourne 29.8 (↓)       Brisbane 32.2 (↓)     Adelaide 26.2 (↑)        Perth 37.5 (↓)       Hobart 31.4 (↓)     Darwin 37.4 (↑)        Canberra 38.7 (↓)       National Capitals 33.1 (↓)           
Share Button

Your Old Clothes Are Worth Billions

Secondhand apparel retail is a booming business, but turning a profit is harder than it sounds

By JINJOO LEE
Thu, Jul 4, 2024 9:46amGrey Clock 3 min

Closets are full of unworn clothes ready for purging, thrifting is in vogue , and everybody’s looking for a good deal these days. It all sounds like a golden business opportunity—if anyone can figure it out.

Americans on average throw away some 70 pounds of clothes a year, and thrifting is becoming more popular by the day—particularly among younger consumers. The U.S. secondhand apparel market was worth about $43 billion last year, according to an annual market report from the online apparel reseller ThredUp . It estimates that the market could grow about 11% a year on average through 2028. The market is fragmented, with about 74% of thrift stores being independently run, according to a report from Piper Sandler.

Companies specialising in thrift, though, are struggling to stitch together a compelling investment case. Shares of the online seller ThredUp and the bricks-and-mortar thrift-store chain Savers Value Village are each down around 29% year to date. The luxury online resale platform RealReal has fared better, but in large part thanks to a debt exchange it announced in late February to address liquidity concerns. ThredUp and RealReal are both down significantly from their peaks a few years back.

This could simply be air coming out of highly inflated expectations. ThredUp and the RealReal made their debuts with much fanfare in 2021 and 2019, respectively. Savers listed last year with a lofty valuation. But sales growth for all three companies has slowed, and they are all growing slower than the overall market.

Nonprofits such as Goodwill control a sizeable portion of the secondhand market, with a steady supply of donations, and eBay dominates the resale market online. ThredUp and RealReal’s bet is that consignors and buyers would be willing to pay a premium for a more convenient selling and buying experience. Sellers need only mail in or drop off their goods, and the platforms do the work of photographing, pricing and tagging each item by size, brand, colour and condition so that items are easily searchable. For RealReal, there is an extra human step of making sure the products aren’t fakes. A single-item distribution system is difficult to recreate and is therefore a powerful moat, says Dylan Carden, an equity analyst at William Blair, referring to ThredUp.

But the expensive process also means profitability is distant: Neither ThredUp nor RealReal is expected to turn a profit on the basis of generally accepted accounting principles for the next four years, according to analyst estimates polled by Visible Alpha.

Balancing the quantity of supply with quality has been difficult. ThredUp last year introduced fees that are subtracted from the payout customers receive if their items are sold on the platform. The change is meant to encourage consumers to send in high volumes of high-quality clothes. RealReal last year tweaked its commission structure to motivate consignors to send in expensive items priced above $100.

While these moves could attract higher quality, they might also divert consignors to platforms such as Poshmark and eBay, where selling involves more work but potentially higher payout. Notably, both of those marketplaces have authentication features for high-end items, and eBay has been trying to simplify sellers’ listing process through generative AI .

Meanwhile, the bricks-and-mortar Savers comes with the promise of a more efficient shopping experience than nonprofits. Piper Sandler estimates that its sales per store is nearly twice that of Goodwill and more than six times that of the Salvation Army. But the retailer faces similar quality challenges.

Only about half the items that Savers gets actually end up on the sales floor, and of those about half actually are sold, according to a company filing. Savers receives all of its items—whether directly or indirectly—by paying nonprofits by the pound for donated products. Savers has previously said that it might be able to snag higher-quality donations by placing its drop-off trailers—known as GreenDrop—near locations frequented by wealthier shoppers.

While Savers has been profitable for the past three years, same-store sales have unexpectedly slowed in recent quarters, and its investment case is highly dependent on new-store growth. This remains a risk. Previous management had trouble opening up stores because they weren’t able to procure enough supplies of secondhand clothing, notes Peter Keith, equity analyst at Piper Sandler, who is still confident about the company’s ability to expand.

Much like that shirt you only wore once, secondhand-apparel sellers so far hold more promise than substance.



MOST POPULAR

Brickworks has enlisted acclaimed architecture studio Kennedy Nolan to explore how homes could become more adaptable, energy-efficient and connected to community.

Ophora Tallawong has launched its final release of quality apartments priced under $700,000.

Related Stories
Lifestyle
SAM KERR ON SUCCESS, SACRIFICE & WHAT COMES NEXT
By Jeni O'Dowd 10/06/2026
Lifestyle
WORLD’S BEST SHIRAZ SELLS FOR JUST $25
By Jeni O'Dowd 03/06/2026
Lifestyle
ART+ UNVEILS MAJOR ART ACTIVATION AT FORUM DOUBLE BAY
By Jeni O'Dowd 02/06/2026
Celebrity-backed fund nears US$50m as investor demand builds 

With US$40 million already committed, the Global Talent Fund is attracting investor attention with a strategy focused on building globally scalable consumer brands alongside high-profile talent. 

By Jeni O'Dowd
Tue, Jun 2, 2026 2 min

A new investment fund targeting celebrity-founded consumer brands has secured US$40 million in commitments and is rapidly approaching its US$50 million fundraising target, signalling growing investor appetite for alternative opportunities beyond traditional asset classes. 

The Global Talent Fund, which has a maximum raise of US$100 million, focuses on building and investing in consumer businesses alongside celebrities, athletes, and influential personalities who play an active role as co-founders rather than simply endorsing products. 

The strategy is based on the belief that changes in consumer behaviour, particularly the rise of social media and digital engagement, have fundamentally altered how brands are built and scaled. 

GTF founding partner Jeremy Hunt, who is helping lead the fund’s strategy, said consumers increasingly feel connected to personalities they follow online and are more willing to support products developed by those individuals. 

“Consumers are searching for content to engage with, and when a celebrity they like or follow takes them on the journey of creating a product or brand, they genuinely feel part of that process,” he said. 

The fund is targeting high-growth consumer sectors including wellness, hydration, beauty and recovery, areas Hunt believes continue to benefit from strong global demand and ongoing innovation. 

Rather than backing celebrity endorsement deals, the fund is seeking businesses where talent is deeply involved in product development, brand creation and long-term growth. 

According to Hunt, authenticity remains one of the biggest differentiators between successful celebrity-backed brands and those that fail. 

“The consumer can see clearly if someone is simply being paid to promote a product,” he said. “The winners are typically the brands where the celebrity has genuinely helped build the business from the ground up.” 

The model has attracted support from several prominent Australian investors and business families, reflecting broader interest in alternative investments with global growth potential. 

Hunt said consumer brands offered a level of tangibility that many investors found appealing. 

“Consumer brands are what we touch, feel, smell and taste every day,” he said. “Our investors understand the growth potential in the model, but they also want to be part of the journey.” 

The fund’s rapid progress towards its fundraising target comes amid growing recognition that celebrity influence, when combined with strong commercial execution and scalable business models, can create significant enterprise value. 

With several high-profile celebrity-founded businesses generating billion-dollar exits in recent years, supporters of the strategy believe the opportunity remains in its early stages. 

For more information, contact marc@kanebridge.com.au

MOST POPULAR

From office parties to NYE fireworks, here are the bottles that deserve pride of place in the ice bucket this season.

A restored 1860s Brisbane residence transformed by GRAYA has smashed Paddington’s house price record, selling for more than $12 million.

Related Stories
Money
How to build a portfolio that generates passive income without over-leveraging
By Abdullah Nouh, Opinion 13/03/2026
Property
SPRING PROPERTY MARKET TIPPED FOR HOTTEST RUN IN YEARS
By Jeni O'Dowd 02/10/2025
Property
La Gemme A Southern Highlands Showpiece For Sale
By Kirsten Craze 30/01/2026
0
    Your Cart
    Your cart is emptyReturn to Shop