H&M, the famous Swedish fashion brand, has announced expanding its resale platform, Sellpy, to the United States. The move is part of the company’s efforts to become more sustainable and promote circular fashion.
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What Sellpy Is
Sellpy is a platform that allows customers to sell their pre-owned H&M clothing items online. The forum was launched in Sweden in 2014 and has since expanded to Germany, the Netherlands, and Austria. Expanding the US market is a significant step for H&M, as the US is the largest market.
The Sellpy platform works by allowing customers to send in their pre-owned clothing items from high-end brands to Sellpy, which then handles the sales process. Sellpy takes care of everything from photographing the items to shipping them to the buyers. Customers can earn a percentage of the sale price for their items, with the rate varying depending on the item’s selling price.
Expanding to the US market is a strategic move for H&M. The company has been facing increasing pressure from consumers and investors to become more sustainable. By promoting circular fashion through the Sellpy platform, H&M is taking a step towards reducing its environmental impact and promoting sustainable fashion practices.
Circular Fashion and its Importance
Circular fashion refers to a model of fashion consumption where clothing items are reused, repurposed, or recycled instead of being disposed of after one use. The fashion industry is a significant contributor to global greenhouse gas emissions and waste, and circular fashion aims to address these issues by extending the life of clothing items and reducing waste.
H&M has been taking steps towards sustainability in recent years. The company has set a goal to become climate positive by 2030, which means it aims to reduce more greenhouse gas emissions than it produces. H&M has also committed to using 100% sustainably sourced materials by 2030 and becoming fully circular and climate positive by 2030.
The Sellpy platform is one of the ways that H&M promotes circular fashion. The platform not only allows customers to sell their pre-owned items but also provides a way for these items to be reused by new customers. By promoting the reuse of clothing items, H&M is taking a step towards reducing waste and extending the life of its products.
American consumers will likely welcome the expansion of Sellpy to the US market. A recent survey by ThredUp, a popular secondhand clothing marketplace, found that the resale market is snowballing in the US. The survey found that the resale market is expected to reach $77 billion by 2025, up from $36 billion in 2021. The survey also found that 70% of consumers are willing to buy secondhand clothing.
Sustainable With Sellpy
The Sellpy platform is not only a way for H&M to become more sustainable but also to appeal to the growing number of consumers interested in sustainable and ethical practices. By providing a way for customers to buy and sell pre-owned H&M items, H&M is tapping into a growing trend towards circular fashion and sustainable consumption.
In conclusion, H&M’s expansion of Sellpy to the US market is a significant step towards promoting circular fashion and reducing waste in the fashion industry. The platform allows customers to sell their pre-owned items and encourages the reuse of these items by new customers. The expansion to the US market is a strategic move for H&M. The company aims to become more sustainable and appeal to the growing number of consumers interested in sustainable fashion practices.