The surge in fashion resales has led to a stream of technological innovations. The Irish start-up Thriftify, which provides software to enable charity shops to list, sell and ship their overflowing clothing stocks online, has recorded 250 per cent year-on-year growth in the volume of transactions it has facilitated. Stripe, the fintech co-founded by the Limerick brothers Patrick and John Collison, will act as the exclusive payment partner for Zara’s pre-owned service. Yet here there is a case of seller beware.
Under new guidelines in Ireland, apps and websites will be required to share certain sales data with Revenue. It will apply only if you undertake 30 transactions with a value of €2.000 or more. The threshold in the UK is £l,000.
– The SundayTimes. JanUarv 14, 2024