Triad Business Journal highlights U Thrift, clothing startup launched by Elon students

The online sell-and-buy business focuses on a consignment model with a focus on catering to college and university students.

The Triad Business Journal recently pointed the spotlight on U Thrift, an online consignment store launched by Jakob Reuter ’23 and Grace Granger ’22.

The sell-and-buy clothing business is focused on attracting fellow college students either looking to sell clothing items or looking to pick up used clothing at a fair price.

Here’s the model, as explained by the Triad Business Journal:

They receive unwanted clothes and items from students using the “sell” page on their website. Together, Reuter and Granger do as much possible to sell the clothes on their website, from cleaning and repairs to refurbishing.

If an item sells, U Thrift gives 30 to 40% of the profit to the original seller. If an item does not sell within 90 days, U Thrift will either return the item to the seller, attempt one last highly discounted sale at The Raleigh Market or Plato’s Closet, or donate it to the Salvation Army or Goodwill.

U Thrift sells most of its items – at the end of their most recent 90-day term limit, they had about 20 items left out of 240.

Since launching at the end of February, U Thrift has made roughly $1,200 in revenue.

“For me, I personally am very invested in sustainability,” Reuter told the Triad Business Journal. “Thrifting has always been something I love doing. It came down to noticing how the students, especially by the end of the year, just throw their stuff out into the dumpsters, rather than donate it or try to sell it themselves. We figured that can be us that collects their items and gives them money back.”

Read the entire article, which includes a Q&A with Reuter, here.