Home / Knowledge / News / Apparel/Garments / eBay buys secondhand clothing company Twice
eBay buys secondhand clothing company Twice
22
Jul '15
American multinational corporation and e-commerce company eBay has acquired secondhand clothing and accessories marketplace Twice, in order to beef up its Valet service, which sells used apparel on behalf of its customers, according to media reports. The terms of the deal were not disclosed.

This is the first buy for eBay since it parted ways with PayPal on July 17.

Twice said that its technical leadership and engineering team will join eBay to power its Valet service, which recently expanded to help users sell high-value designer clothing easily.

The company, which launched in 2012 and has been backed by venture capital firm Andreesen Horowitz, will slowly wind down its current operations. It's currently running sales to clear out its inventory and won't accept returns after July 30.

eBay reported strong second quarter results last week with revenue growth up 7 per cent — numbers that beat Wall Street expectations. The company also delivered an optimistic yearly forecast with an expected revenue growth of 3 per cent to 5 per cent. Additionally, eBay reached a definitive agreement to sell its eBay enterprise unit to a private equity firm for $925 million. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X