H&M is partnering with ThredUp in its new resale offering.
A global fast-fashion giant is making its U.S. debut in the burgeoning resale market via a new partnership.
H&M is deploying the ThredUp Resale-as-a-Service (RaaS) solution, which delivers scalable, customizable resale offerings for retailers. The new online "H&M Pre-Loved" shop features garments that are organized into several smaller sub-shops, such as denim, sport, ladies, divided, and kids. There is also a “Collabs” sub-shop, featuring pieces from the retailer's designer collaborations and guest designer lines from years past.
Other fashion-oriented companies that have recently partnered with ThredUp for resale efforts include Francesca's Acquisition LLC, which operates a nationwide chain of Francesca's and Franki by Francesca's stores; as well as Kate Spade.
"With our new ‘H&M Pre-Loved’ resale shop powered by ThredUp's Resale-as-a-Service, we're ensuring customers can find the largest amount of stylish, preloved H&M pieces ever to give them a second life," said Abigail Kammerzell, head of sustainability, H&M North America. "We need to take responsibility for the impact fashion has on climate and the environment. Circular business models can help us reduce and limit this negative impact, while continuing to deliver fashion and style for our customers. With the launch of our first resale model in the U.S. market, we're taking the next big step in that direction."
"We're thrilled that H&M has chosen to partner withThredUp to debut their first resale program in the U.S., building on their global momentum investing in new circular business models," said James Reinhart, CEO and co-founder of thredUP. "As one of the largest retailers in the world, H&M's impact potential is tremendous, and 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."
Consumers committed to sustainable purchases; intent varies by category
Sixty-five percent of U.S. buyers consider sustainability when making purchases, a 14% increase from a year ago, according to the Global Sustainability Study 2022 by pricing advisory firm Simon-Kucher & Partners.
The shift in consumer behavior coincides with a shift in sentiment toward sustainability during the past year, as 73% of respondents to the survey view environmental sustainability to be 'as important’ or ‘more important’ to them than a year ago, the report said.
In the U.S., 71% of consumers surveyed indicated their purchasing behavior and choices have shifted in at least a modest way towards buying more environmentally sustainable products over the past five years.