H&M tries its luck in US$51 billion used-clothing market
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.