H&M’s online second-hand shop Sellpy launches in Germany, Retail News, ET Retail

STOCKHOLM : Swedish on-line 2nd-hand shop Sellpy, which is majority-owned by style large H&M, has released in Germany in a initially stage outside the house its dwelling current market as it bets on shoppers trending in direction of much more sustainable intake.

The start out-up handles the entire revenue procedure from choosing up the merchandise from sellers’ houses, to photographing, advertising and transport.

Sellpy introduced in Could that it would double its warehouse ability in Sweden, to close to eight million items yearly, due to strong need. Considering the fact that Sellpy’s basis in 2014, much more than six million items have been bought through the platform, it explained.

The 2nd-hand current market is one of the fastest growing financial sectors in the style field, Sellpy and H&M explained in a joint assertion on Monday.

H&M initially invested in Sellpy in 2015 and now retains a 70% stake.

“We see that the consciousness and need from our shoppers for sustainable style is constantly growing and is now likely increased than ever,” H&M Germany manager Thorsten Mindermann explained.

“That is why we are especially pleased to be able to present a new sustainable way of acquiring and advertising style, in collaboration with Sellpy,” he added.

Trying to find to enhance its environmental qualifications and tap into consumers’ growing fears about the environmental price tag of rapidly style, H&M has in modern years released trials these kinds of as vintage garments revenue and get together gown rental.