H&M has launched a new resale platform in cooperation with thredUP. The platform is a part of the Swedish fashion retailers’ efforts to extend the use of its products and thereby establish a more sustainable business model.
H&M Pre-Loved launched last week with around 30,000 pre-loved women’s and kids’ clothing and accessories on hm.thredup.com. The Swedish company, is among the biggest retailers to sell used clothing.
As a fast fashion brand, H&M’s track record with sustainability is checkered. The retailer’s business model has made the company less environmentally friendly than many other fashion retailers.
Resale, and the list of brands signing up to work with the likes of ThredUp and Trove, are growing. Last May, ThredUp released a report predicting that the secondhand market will reach $82 billion by 2026.
In addition to H&M, ThredUp has partnered with brands and retailers like Kate Spade, Madewell and J. Crew to resell used products.