Already very popular among fashionistas, H&M has expanded a new project that
will certainly please fans. Sellpy is an online second-hand shop that is
mainly-owned by the firm. In a bid to keep sustainable fashion growing, it is
going to open 20 more stores in European countries.
This is a start-up that handles the complete sales process
of used items. It picks up the goods from sellers’ homes, photographs, advertises,
sells and ships them as well. First launched in 2014 in Sweden, now, this
project will be available in 24 markets. According to Sellpy, second-hand is one of the fastest growing market segments
within the fashion industry. There is a lot of demand for these goods.
Moreover, pre-owned items align with demand for sustainability and
environmental-friendliness. Consumers are becoming increasingly conscious of
the origins of their clothes.
Considering the fact that H&M has been experiencing a
loss in sales, this project will definitely be advantageous. The group is
looking for additional revenue streams and it has invested more than 20 million
euros ($24.38 million) in Sellpy and now it owns 70% of the
shares. The latter has access to an H&M warehouse in Poland and its distribution,
quality control of garments and order handling services.
Sellpy is expanding into more markets © Royalty-free image
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