DICK’S Sporting Goods makes a bet on the circular economy with investment in SidelineSwap
November 3, 2022
BOSTON– SidelineSwap, the leading resale marketplace in sports, today announced that it received a strategic investment from DICK’S Sporting Goods, the leading sporting goods retailer. The two companies have been expanding their resale partnership, including more pop-up trade-in events.
“This is a big step for us,” said Brendan Candon, Co-founder and CEO of SidelineSwap. “This partnership started with our commitment to make it easy for anyone to sell their used sports equipment. We’ve spent the last 5+ years building the best online resale marketplace in sports, and now we’re expanding the business to power resale wherever athletes shop or play through our trade-in platform.”
The resale marketplace landscape is rapidly evolving. Customer adoption of secondhand buying and selling continues to outpace retail growth, and is expected to grow 127% by 2026 according to ThredUp’s 2022 Resale Report. With 3 in 4 consumers reporting that they shopped or were open to shopping secondhand in the past 12 months, it’s clear resale is going mainstream. The increased adoption, led by millennials and Gen Z, is driving brands and retailers to incorporate resale into their shopping experiences. Recently many brands and retailers, including Lululemon, Ikea, and Allbirds, have introduced circular shopping experiences powered by resale partners.
By introducing the SidelineSwap Trade-in Platform, which will include pop-up events, in-store and online trade-in options for brands and retailers, and a suite of tools for resellers in the SidelineSwap community to power their own trade-in experiences, SidelineSwap is building what is likely the next generation of resale marketplaces. The Trade-in Platform is powered by SidelineSwap’s best-in-class marketplace technology and proprietary resale data. The hybrid model, which includes peer-to-peer and first party sales, gives sellers the option to choose whatever works best for them – direct resale or instant trade-in value. Together, this ensures sporting goods customers can always find the biggest and best selection of gear at the best prices on the marketplace.
“Our trade-in experiences are a true win-win-win,” said Doug Smith, VP of Partnerships at SidelineSwap. “Customers earn great value on their used equipment with hardly any work, retailer partners increase sales and foot traffic while embracing sustainability, and SidelineSwap will have an even better selection of deals. We’re just getting started on a much bigger vision for resale in sports and beyond.”
SidelineSwap – the world’s largest online marketplace for sporting goods – makes it easy for athletes, fans and sports families to safely buy and sell their gear. Founded in 2015, SidelineSwap has enabled athletes to earn more than $100,000,000 to date by reselling the extra gear they have at home. Buyers can expect to find great value on a wide range of inventory across all sports, and sellers can quickly & easily turn their used sporting goods into cash or shopping credit. SidelineSwap was one of the fastest growing marketplaces on Andreessen Horowitz’s A16z Top 100 marketplace list for 2020.
Contacts: SidelineSwap Doug Smith, email@example.com
About DICK’S Sporting Goods:
DICK’S Sporting Goods (NYSE: DKS) creates confidence and excitement by personally equipping all athletes to achieve their dreams. Founded in 1948 and headquartered in Pittsburgh, the leading omnichannel retailer serves athletes and outdoor enthusiasts in more than 850 DICK’S Sporting Goods, Golf Galaxy, Field & Stream, Public Lands, Going Going Gone! and Warehouse Sale stores, online, and through the DICK’S mobile app. DICK’S also owns and operates DICK’S House of Sport and Golf Galaxy Performance Center, as well as GameChanger, a youth sports mobile app for scheduling, communications, live scorekeeping and video streaming.
Driven by its belief that sports make people better, DICK’S has been a longtime champion for youth sports and, together with its Foundation, has donated millions of dollars to support under-resourced teams and athletes through the Sports Matter program and other community-based initiatives. Additional information about DICK’S business, corporate giving, sustainability efforts and employment opportunities can be found on dicks.com, investors.dicks.com, sportsmatter.org, dickssportinggoods.jobs and on Facebook, Twitter and Instagram.
CONTACTS: Amanda Bonzo, DICK’S Sporting Goods, firstname.lastname@example.org
SidelineSwap Doug Smith, email@example.com
Amanda Bonzo, DICK’S Sporting Goods, firstname.lastname@example.org