Swedish online second-hand shop Sellpy, which is majority-owned by fashion giant H&M has been launched in more 20 countries.
On 31 May, it was opening in 20 more European countries as demand for sustainable fashion will keep growing.
The start-up manages the entire sales process, from picking up items from the seller’s home to taking pictures, selling and shipping. After its first launch in Sweden in 2014, the expansion will take its market share to 24.
Sellpy said in a statement, “It is part of a fast-growing market in the second-hand fashion industry.”
At the same time, Chief Gustav Wessman said, “Every garment pre-owned saves the resource for our planet, and demand in our new market is growing rapidly.”
As consumers become increasingly aware of the origins and durability of their clothing, the fashion industry continues to oversee the growth of the cast culture.
The H&M Group bought the first stake in Sellpy in 2015, with sales in many H&M stores slowing down in view of the surplus revenue flow after a few rough years.
Wessman told Reuters that H&M had invested more than 20 million euros ($24.38 million) in Sellpy and owned about 70 percent of the company.
Sellpy said they have started a partnership with H&M which provides services close to access to H&M warehouses in Poland as well as clothing distribution, quality control, and order management.
Earlier this month, Lithuania-based Vinted raised 250 million euros ($305 million) to expand further into Europe and beyond, and the fundraising will result in a pre-financing assessment of the 3.5-million-euro business.
Sellpy said, on his platform more than nine million garments have been sold.