Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Microsoft Unveils Massive Global AI Investments, Prioritizing India’s Rapidly Growing Digital Market 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Coca-Cola’s Costa Coffee Sale Faces Uncertainty as Talks With TDR Capital Hit Snag 
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff 
Trump’s Approval of AI Chip Sales to China Triggers Bipartisan National Security Concerns 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
SpaceX Edges Toward Landmark IPO as Elon Musk Confirms Plans 
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
H&M multinational clothing company based in Sweden revealed it has teamed up with ThredUp, an online consignment and thrift store firm, to set up a resale program in the United States. The company announced this plan on Tuesday, March 14.
As per Reuters, ThredUp has already worked with various brands by managing their pre-loved clothing sales, and H&M will be its biggest brand partner so far. The collaboration will also mark the H&M Group’s first used clothing resale marketplace in the U.S.
Once up and running, H&M’s resale marketplace will initially offer about 30,000 clothing items. Its resale site is powered by ThredUp, which will also be responsible for restocking the site with H&M goods consigned by users.
It was mentioned that H&M’s in the clothing retail business, such as Zara and SHEIN, have also set up their own resale marketplaces as people showed a growing interest in sustainability initiatives in this era. An investment firm estimated that the used clothing resale market may grow to $300 billion business by 2031.
In any case, Abigail Kammerzell, H&M North America’s head of sustainability, said the company sees resale as part of its wider push toward sustainable practices. She mentioned that their brand will also release a denim collection made with recycled materials.
"With our new ‘H&M Pre-Loved’ resale shop powered by ThredUP's Resale-as-a-Service, we are ensuring customers can find the largest amount of stylish, preloved H&M pieces ever to give them a second life," Kammerzell said in a press release. "We need to take responsibility for the impact fashion has on the climate and the environment.”
ThredUp’s co-founder and CEO, James Reinhart, also said, "We are thrilled that H&M has chosen to partner with thredUP to debut their first resale program in the U.S., building on their global momentum investing in new circular business models. We are pleased that thredUP's Resale-as-a-Service is powering a scalable resale program to reach H&M's customers in a new and sustainable way."
