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93: Creating a Premium Brand Experience Around Refurbished Product, with Nick Martin, Founder of the Pro's Closet
Used gear is huge right now. In the apparel sector, alone, ThredUp estimates the resale industry will be worth $41 billion by 2022. To call pre-owned gear a trend risks diminishing the social, environmental and fiscal values in this type of circular economy.
Nick Martin understands this because he was one of the pioneers in the used sector. As founder and CEO of The Pro’s Closet (TPC), he studied eBay to learn consumer behaviors around re-sale gear. To say he learned well is an understatement. TPC launched in 2006. Recently, it’s been consistently growing 120 percent year over year.
The keys to the e-commerce company’s success can be traced to Nick’s background as a pro cyclist, a stroke of amazing luck with six Colnago Futura frames, a strong team, and a boatload of work. Today TPC is managing the near impossible by figuring out how to navigate tricky world of bike retail (resale) without stepping on toes.
The used market is about experiences, sustainability, price and encouraging participation growth by allowing customers to upgrade within their means. So many lessons and so many stories to tell. I hope you enjoy my conversation with Nick Martin.
Nick Martin was a pro cyclist living in a 1962 VW bus, when he decided to sell everything he owned except for his bike and bus in order to keep living his dream of riding professionally. The experience sparked the idea for The Pro’s Closet (TPC), the largest, pre-owned bike shop in the world.
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By Kristin Carpenter
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4646 ratings
Used gear is huge right now. In the apparel sector, alone, ThredUp estimates the resale industry will be worth $41 billion by 2022. To call pre-owned gear a trend risks diminishing the social, environmental and fiscal values in this type of circular economy.
Nick Martin understands this because he was one of the pioneers in the used sector. As founder and CEO of The Pro’s Closet (TPC), he studied eBay to learn consumer behaviors around re-sale gear. To say he learned well is an understatement. TPC launched in 2006. Recently, it’s been consistently growing 120 percent year over year.
The keys to the e-commerce company’s success can be traced to Nick’s background as a pro cyclist, a stroke of amazing luck with six Colnago Futura frames, a strong team, and a boatload of work. Today TPC is managing the near impossible by figuring out how to navigate tricky world of bike retail (resale) without stepping on toes.
The used market is about experiences, sustainability, price and encouraging participation growth by allowing customers to upgrade within their means. So many lessons and so many stories to tell. I hope you enjoy my conversation with Nick Martin.
Nick Martin was a pro cyclist living in a 1962 VW bus, when he decided to sell everything he owned except for his bike and bus in order to keep living his dream of riding professionally. The experience sparked the idea for The Pro’s Closet (TPC), the largest, pre-owned bike shop in the world.