Thrift Vintage Fashion
01/16
01/16Cover
TVF warehouse interior
TVF logo
Confidential · Investor Memorandum · 2026

The Infrastructure Layer for Resale.

Thrift Vintage Fashion is transforming decades of sourcing, grading, bundling and fulfillment expertise into the operational backbone of the resale economy.

Presented by
Thrift Vintage Fashion
Operating base
Wholesale leadership, national fulfillment, institutional discipline.
Series
2026 — Growth Round
02/16Market Shift
The Market Shift

The secondhand economy
is exploding.

A structural reordering of how consumers buy, sell and reuse apparel — accelerated by social commerce, supply pressure and a generational shift toward circular consumption.

$350B
Projected global resale TAM by 2028
Source: industry estimates
2.7×
Growth vs. traditional retail
5-year CAGR
62%
Gen Z buying secondhand monthly
14M+
U.S. independent resellers
U.S. resale revenue ($B, indexed)
03/16Problem
The Problem

Resale infrastructure
is broken.

Demand is real. Capital is flowing. But the physical pipes that move secondhand inventory through the economy were never built.

01

Fragmented sourcing

Inventory scattered across thrift stores, estate sales, regional bins — no consistent supply chain.

02

Manual processing

Grading, photography and listing still done garment-by-garment, person-by-person.

03

Inconsistent fulfillment

Sellers cobble together packing, shipping and returns with no operational standard.

04

No infrastructure layer

Marketplaces own demand. No one owns the physical logistics layer beneath them.

05

Shipping inefficiency

Single-item ships, mis-rated parcels, and no negotiated carrier rates for small sellers.

06

Trust + quality gaps

Buyers can't verify grading. Sellers can't guarantee supply. Both sides absorb the risk.

04/16Fragmented Ecosystem
Market Structure

A fragmented
ecosystem.

Demand platforms scaled first. Operational infrastructure never did — leaving sourcing, processing, fulfillment and logistics fractured across thousands of disconnected operators.

Demand layer · consolidated
Scaled · capital-backed
01
Marketplaces
eBay · Poshmark · Depop · Mercari
02
Social commerce
TikTok Shop · Instagram
03
Live commerce
Whatnot · TikTok Live
04
DTC resale brands
Vertical secondhand storefronts
Infrastructure layer · fragmented
Sub-scale · disconnected
05
Sourcing
Sorters · recyclers · regional bins
06
Wholesale supply
Bulk vintage & secondhand inventory
07
Processing & grading
Intake, condition, categorization
08
Fulfillment & logistics
Pick, pack, ship at reseller scale
TVF
The operational infrastructure layerbeneath the resale economy.
Sourcing → Processing → Fulfillment → Reseller network
05/16Why TVF
Why TVF

One of the largest
vintage wholesale suppliers
in the United States.

A decade of operating muscle, a national customer base, and the sourcing depth required to anchor an infrastructure platform.

40,000+
Resellers served
Active wholesale buyers
100,000+
Customers in ecosystem
Cumulative reach
10+ yrs
Operating history
Built through cycles
50 states
National distribution
Coast-to-coast shipping
Sourcing network

Long-standing relationships with sorters, recyclers and regional bin operators across the U.S. and abroad.

Operational depth

Intake, grading, bundling, fulfillment and returns — already executed at scale, every single day.

Customer demand

Resellers repeatedly buy from TVF because the inventory, the consistency and the service are unmatched.

06/16Today’s Business
Today’s Business

A proven operating machine.

Profitable and scaling — moving inventory through a standardized industrial pipeline that already funds infrastructure expansion from operating cash flow.

Operational pipeline
01Source
02Intake
03Grade
04Bundle
05Fulfill
06Reseller
$XX M
Annual revenue
$XX
Average order value
XXX K
Orders shipped / yr
XX %
Repeat customers
XX K
Unique customers / yr
07/16Lifetime to Date
Lifetime to Date

Five years. $11.9M shipped.

Since 2020, TVF has shipped tens of thousands of orders to customers in 63 countries — building the operating muscle, customer base, and data behind the infrastructure thesis.

$11.9M
Lifetime revenue
45,950
Lifetime orders
28,322
Lifetime customers
63
Countries shipped
50+
US states / territories
08/16National Footprint
National Footprint

Shipping coast to coast.

35,266 US orders shipped across all 50 states + DC since 2020 — led by California, Texas, Florida, and New York.

Fewer orders
More orders
Top states by orders
  1. 01California
    4,320
    $1.45M
  2. 02Texas
    3,515
    $832k
  3. 03Florida
    2,272
    $567k
  4. 04New York
    2,078
    $467k
  5. 05North Carolina
    1,329
    $309k
  6. 06Pennsylvania
    1,283
    $303k
  7. 07Georgia
    1,232
    $277k
  8. 08Illinois
    1,174
    $248k
35,266
Total US orders
$8.7M
US revenue
09/16Founder
Founder

Built by operators.

Ryan Frankel, Founder of TVF
TVF / FounderEst. 2015
Operator · Builder
Warehouse-floor origin
Founder & CEO
Ryan Frankel

Built one of the largest independent resale inventory operations in the United States — sourcing, processing, grading and distributing inventory at industrial scale for tens of thousands of resellers nationwide.

01
15+ Yrs
Operating resale infrastructure
02
40,000+
Reseller relationships
03
International
Sourcing + fulfillment network
04
10K+
Orders processed annually
— Operator note
Resale doesn’t need another marketplace.
It needs infrastructure.
10/16The Big Vision
The Big Vision

From vintage wholesaler
to resale infrastructure platform.

A single company expanding along the same operational spine — from physical inventory, to physical network, to the data layer above it.

01Today

Vintage wholesaler

Sourcing, grading and shipping bundled vintage inventory to a national base of resellers.

  • Wholesale supply
  • Bulk fulfillment
  • Reseller-led demand
02Next

National distribution network

Regional hubs and standardized fulfillment make TVF the default operator for secondhand inventory.

  • Regional hubs
  • Fulfillment as a service
  • Reseller enablement
03Future

Infrastructure backbone

The default logistics, data and automation layer powering every channel of resale commerce.

  • AI inventory systems
  • Marketplace infrastructure
  • Circular commerce rails
11/16Warehouse Strategy
Warehouse Expansion Strategy

Regional
distribution hubs.

Combining operational cash flow with scalable infrastructure assets — TVF as anchor tenant in facilities that monetize excess capacity through fulfillment services.

Anchor tenancy

TVF operations underwrite the facility footprint.

Excess capacity monetized

Sold as fulfillment for third-party resellers.

Centralized intake

Standardized processing at every hub.

Regional reach

Coverage, speed and shipping economics that small sellers can't access alone.

TVF distribution facility
12/16Fulfillment Infrastructure
Fulfillment Infrastructure

Fulfillment infrastructure
for the resale economy.

Industrial-grade pick, pack, ship and returns built specifically for secondhand inventory — operated as shared infrastructure for the sellers, brands and platforms moving used goods at scale.

Target customers
  • eBay sellers01
  • Whatnot sellers02
  • TikTok Shop03
  • Vintage stores04
  • Live sellers05
  • DTC resale brands06
Capabilities
Inventory intake
Storage
Photography
Pick & pack
Shipping
Returns
13/16Tech Layer
Future Technology Layer

Building the
data & AI layer of resale.

Software leverage applied on top of real operating infrastructure — not the other way around. The network creates the data; the data compounds the network.

01

AI pricing

Real-time price benchmarks from millions of resale comparables.

02

Automated grading

Computer vision standardizes condition, sizing and category at intake.

03

Inventory intelligence

Forecast sell-through and rotate stock across the regional network.

04

Trend forecasting

Surface emerging categories before they hit mainstream resale demand.

05

Seller analytics

Margin, velocity and channel performance for every reseller on the network.

06

Marketplace optimization

Auto-list and re-list across channels with optimal pricing and inventory.

14/16Why Now
Why Now

The perfect timing
for consolidation.

Demand, fragmentation and capital are aligned. The operator who builds the rails first defines the category.

01

Resale is mainstream

Secondhand is no longer counter-culture; it's a primary consumer channel.

02

Social commerce inflection

Live selling and short-form video have created a new generation of operators.

03

Fragmented market

Tens of thousands of independent sellers — and no consolidator.

04

No dominant operator

The category lacks an Amazon, a Flexport, a Shopify-grade infrastructure player.

05

Supply pressure rising

Tariffs and supply-chain risk push demand toward domestic, secondhand inventory.

06

Capital chasing rails

Investors are pricing logistics, infrastructure and operational moats at a premium.

15/16Infrastructure Expansion Round
Infrastructure Expansion Round

Raising $3M growth capital to expand national resale infrastructure.

Capital deployed against physical assets, throughput and operating leverage — not customer acquisition. Each dollar expands the infrastructure footprint already producing revenue today.

Round size
$3.0M
Structure
Growth equity
Use
Infrastructure expansion
Status
Operating · profitable
Capital Allocation
01
Warehouse acquisition & expansion
38%
02
Automation & operating systems
18%
03
Fulfillment infrastructure
14%
04
Inventory scaling
12%
05
Team & operational leadership
10%
06
Tech & data platform
8%
Total deployment100% · $3.0M
Capital Unlocks
01
Throughput

Higher processing volume per facility.

02
Unit economics

Lower fulfillment cost per order.

03
Reseller capacity

Expanded supply for the network.

04
Regional reach

New U.S. distribution nodes.

05
Revenue lines

Third-party fulfillment services.

06
Operating leverage

Compounding margin on fixed assets.

16/16Closing
Aerial distribution complex
TVF logo
Confidential · 2026

The infrastructure backbone
of secondhand commerce.

TVF is evolving from one of the largest vintage wholesalers in the United States into the operational layer powering the resale economy — combining sourcing, physical infrastructure and software-enabled fulfillment under a single operator.

Presented by
Thrift Vintage Fashion
Round
$3M — Infrastructure Expansion
Document
2026 — Investor Memorandum