New Jersey-based ShopWorn has shown impressive revenue growth of 87% over the past three years, despite a difficult trading atmosphere due to COVID-19.
Despite the tough conditions though, the circular business model of acquiring past seasons’ unsold luxury watches, jewelry, leather goods and other accessories directly from luxury brands or their authorized retailers has proven a good one for the business.
So good in fact, ShopWorn.com has landed on Inc. magazine’s annual Inc. 5000 list which reveals the nation’s top 5000 fastest growing businesses.
Positioned at #3762 on the national list with an impressive 87 percent three-year growth for the fledgling startup, ShopWorn placed #144 in the retail category.
The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—independent small businesses.
Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many others gained their first national exposure as honorees on the Inc. 5000.
Larry Birnbaum, CEO of Shopworn.com, said: “When the pandemic began in 2020, I was concerned our growth and company would shrink in size as we weathered the storm.”
“Instead, 2020 saw ShopWorn grow the fastest in our six-year history — not just in revenues, but also in staffing and global expansion with a Hong Kong satellite office servicing the Asia Pacific region. Our presence on the INC 5000 List was only possible through the dedicated service of my team, for whom this honor fully belongs.”
Launched in 2015, ShopWorn was created to help brands and their authorized retailers sustainably alleviate the challenge of unsold inventory.
Now six years on and enjoying success, over 70 major luxury designer brands are now turning to ShopWorn to meet their own sustainability mandates.