LOS ANGELES, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Reissue FZ LLC ("Reissue" or the "Company"), is pleased to announce the launch of North America's first commission-free, resale marketplace to buy and sell, men's and women's, designer, streetwear and vintage clothing, as well as footwear, and accessories.
The Company is seeking to address a void relinquished by existing high commission marketplaces and those that focus solely on menswear, in the current $15 billion market for resold garments, shoes and accessories, which is projected to grow to $47 billion globally by 2025 (not including traditional thrift stores).
The re-issue.com marketplace, a web based application, recently completed a beta testing phase which saw over 4500 individual users, from 65 different countries successfully access and navigate the web app, which is now accessible by web browser and available for download on mobile and desktop.
Beta testing proved to be highly effective in identifying and solving over 250 bugs and small design improvements to enhance the user experience. Furthermore, during this beta phase users created over 3300 listings, totalling nearly $1.5 million in value.
In order to process sales safely and securely the Company has partnered with PayPal to be the exclusive payment processor for all transactions on the marketplace. Re-issue.com requires all users to signup and login to the application through their verified PayPal account via a PayPal gateway. Requiring login through PayPal reduces the amount of sensitive personal data stored by Reissue and reduces the risk of fraudulent listings as every verified PayPal account is linked to a bank account.
Additionally this exclusive partnership ensures that every single purchase is covered by PayPal's authenticity guarantee. If a buyer does not receive a purchased item, or if the item is inauthentic or not as described, PayPal will issue a full refund.
Re-issue.com does not charge users a fee for posting listings or facilitating sales, however the marketplace does offer additional paid features to promote listings that range in price from $1 to $10.
The Company looks forward to deploying a content delivery network in the near future as part of our comprehensive global expansion strategy to access additional markets.
* All figures quoted in USD
** Market size data and projections provided by GlobalData 2021 Market Sizing and Growth Estimates
Sustainability
Each year, billions of new garments, accessories, and shoes are purchased with half of these items eventually ending up in landfills or incinerators. If each person on the planet bought one second hand item instead of a new one, it would save the equivalent of:
- 5.7 billion lbs of CO2 and Greenhouse Gasses
- 25 billion gallons of water
- 449 million lbs of waste
To put that into perspective, that's the equivalent of planting 66 million trees, taking 1.25 billion less showers, and filling 18,700 less garbage trucks.
Learn more about Reissue's commitment to sustainability by visiting https://re-issue.com/page/sustainability
* Consumption statistics provided by:
- EPA Clothing and Footwear Waste Estimates
- World Bank Report "How Much Do Our Wardrobes Cost to the Environment?" September 23, 2019
About Reissue
Reissue FZ LLC. is a UAE headquartered sustainable luxury startup which operates a commission-free, online, resale marketplace for high quality, previously worn garments, as well as new limited edition and hard to find pieces.
Reissue has a dedicated team of experts that review each listing to make sure items listed on the marketplace are authenticated prior to publication. The Company is driven by the goal of matching up previously worn high quality garments with new owners, in order to reduce waste and the environmental impact of the fashion industry.
For More Information about Reissue, please visit https://re-issue.com/page/about
Reissue FZ LLC.
145 S. Fairfax Ave Suite 200 - #252
Los Angeles, CA, United States of America
90036
+1 (424) 407 4186
Reissue FZ LLC.
Fujairah Creative Tower
PO BOX 4422
Fujairah, United Arab Emirates
+971 58 513 2163
Christopher George
Co-Chief Executive Officer and Director
chris@re-issue.com
+971 58 513 2163
+1 (424) 407 4186
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