H&M tries its luck in billion dollar 2nd Hand Clothing Market
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Fast-fashion brand H&M is testing its fortunes in the fast-growing used-clothing market.
The Swedish brand has commenced sales of second-hand clothing in response to consumer concerns about the environmental impact of the fashion industry.
H&M’s head of sustainability Anna Gedda says the program is being piloted in Sweden with a view to a more substantial rollout in future.
“It comes back to the whole circular vision,” she said. “It just makes great sense to look into this business. We see this as a growing part of the industry, with great opportunities both for consumers and not least for the environmental impact, and how we can drastically reduce that by extending the life of the products.”
The used-clothing market is expected to reach US$51 billion, double its current size, within the next five years.
Last year, a BBC documentary portrayed fashion as one of the world’s most polluting industries.
Questions & Answers
Q.Where is H&M currently testing its second-hand clothing sales?
Where is H&M currently testing its second-hand clothing sales?
The program is currently being piloted in Sweden. H&M's head of sustainability stated this is with a view to a more substantial rollout in future.
Q.What is the primary reason H&M is entering the used-clothing market?
What is the primary reason H&M is entering the used-clothing market?
H&M is responding to consumer concerns about the environmental impact of the fashion industry. They see it as a way to drastically reduce environmental impact by extending product life.
Q.How large is the used-clothing market expected to become in the next five years?
How large is the used-clothing market expected to become in the next five years?
The used-clothing market is expected to reach US$51 billion within the next five years. This figure is double its current size.
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