H&M majority-owned second-hand shop Sellpy expands across 20 more EU countries
Majority-H&M-owned online second-hand shop Sellpy is set to expand its stores across 20 more European countries, the company said today.
The Swedish start-up, which picks up the goods from sellers’ homes, and photographs and sells them online, will now be available in a total of 24 markets after launching in 2014.
The second-hand market is one of the fastest-growing branches in the fashion industry, Sellpy said in a statement, as consumers eye more sustainable options.
“Every garment bought pre-owned saves resources for our planet. Demand in our new markets is growing rapidly”, the start-up’s head of expansion Gustav Wessman said.
The fashion industry is coming under increasing scrutiny for its environmental impacts and for stoking a throwaway culture. Retail giant H&M, has been targeted by fast-fashion critics in recent years.
The H&M group, which bought its first stake in Sellpy in 2015, has invested more than $24.38m in Sellpy and owns around 70 per cent of the company, Wessman told Reuters.