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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."
