The mother-daughter duo behind the thrift-store chain Buffalo Exchange explains how they built a $100 million company from used clothes
The company has 43 stores nationwide and booked $100 million in revenue in 2019.In the 1970s, thrift shopping was far from the
"The resale industry as a whole has just gotten bigger, so there's room for more people in it, which helps everybody inside the industry," said Kerstin's daughter, Rebecca Block, who grew up working in the store from age 9 and is now the company's vice president.Popularizing the 'buy, sell, trade' modelKerstin and her late husband, Spencer, opened their first store in Tucson, Arizona, in 1974.
Today the"buy, sell, trade" model is widely used in resale, from local stores such as Beacon's Closet in New York to national chains such as Plato's Closet.Kerstin Block is the president and co-owner of Buffalo Exchange. Her daughter , Rebecca Block, is the vice president.that was published after his death. Among the many lessons he described was that Buffalo Exchange's success was not merely luck or good timing, but based on two people drawing on their strengths.
When customers walk into Buffalo Exchange with a tote bag full of clothing, store associates known as buyers are the ones who sort every piece to find the gems. They check for brand names, garment condition, and overall appeal to stock the store with items from brands like Levi's, Free People, and Nike. You can find gently used luxury goods like leather jackets and designer bags for a fraction of their original prices.
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