As global apparel companies try to manage the clothing waste they produce and find a potential new source of revenue, H&M has launched an online resale platform with ThredUp Inc., online consignment and thrift store.
H&M is No. 11 in the Europe Database, Digital Commerce 360’s ranking of the region’s largest online retailers by web sales.
The first resale platform that the company has started is the US market, called H&M Pre-Loved. The launch of the platform included 30,000 items of used clothes and accessories in the women’s and kids’ categories on hm.thredup.com.
The Swedish apparel company is the largest retailer to sell used clothing and accessories via ThredUp’s resale platform. ThredUp already works with several dozen other brands and has launched resale programs with J. Crew and Kate Spade in 2023.
“We need to take responsibility for the impact fashion has on climate and the environment,” Abigail Kammerzell, head of sustainability for H&M North America, said in a statement. Business models such as this can help “reduce and limit this negative impact, while continuing to deliver fashion and style for our customers,” she said.
H&M also announced in February, a programme to sort used clothing in Europe for resale and recycling but it’s too soon to say whether programmes like these will ultimately lead firms to produce less clothing because of declining demand for new goods.
H&M didn’t reveal its forecast for potential revenue from the sale of its used items. Many companies that have launched resale platforms recently have said that initial revenue is likely to be minimal but that it will grow over time as the market expands.
The forecast for the potential revenue from the sale of used items was not shared by H&M. Also, many companies who have also launched resale platforms have said that initial revenue is minimal but will likely grow over time as markets expand.
