STOCKHOLM (Reuters) – Swedish online pre-owned store Sellpy, which is majority-owned by style huge H&M ( HMb.ST), has actually introduced in Germany in a primary step outside its home market as it bets on buyers trending towards more sustainable usage.
The start-up handles the whole sales process from picking up the products from sellers’ houses, to photographing, selling and delivering.
Sellpy announced in Might that it would double its warehouse capability in Sweden, to near 8 million products annually, due to strong need. Since Sellpy’s structure in 2014, more than 6 million products have been offered through the platform, it said.
The second-hand market is one of the fastest growing financial sectors within the fashion business, Sellpy and H&M said in a joint declaration on Monday.
H&M first invested in Sellpy in 2015 and now holds a 70%stake.
” We see that the awareness and need from our consumers for sustainable style is continuously growing and is now most likely greater than ever,” H&M Germany supervisor Thorsten Mindermann said.
” That’s why we’re especially happy to be able to offer a brand-new sustainable way of buying and selling fashion, in collaboration with Sellpy,” he included.
Seeking to enhance its environmental credentials and tap into customers’ growing issues about the ecological expense of quick style, H&M has in current years released trials such as classic clothes sales and party dress rental.
Reporting by Anna Ringstrom, modifying by Ed Osmond