STOCKHOLM, May 31 Reuters Swedish online secondhand shop Sellpy, which is majorityowned by fashion giant HM , said on Monday it was opening in 20 more European countries, in a bet demand for sustainable fashion will keep growing.
The startup handles the entire sales process from picking up the goods from sellers homes, to photographing, selling and shipping. The expansion will take its number of markets to 24 after it first launched in 2014 in Sweden.
Sellpy said in a statement secondhand was one of the fastest growing market segments within the fashion industry.
Every garment bought preowned saves resources for our planet. Demand in our new markets is growing rapidly, Head of Expansion Gustav Wessman said.
As consumers become increasingly conscious about the origins and sustainability of their clothes, the fashion industry is coming under scrutiny for fuelling a throwaway culture.
The HM group, which is on the outlook for additional revenue streams following a few rough years with slowing sales in many HM stores, bought its first stake in Sellpy in 2015.
Sellpy said it had started a collaboration with HM that gives it access to an HM warehouse in Poland, as well as service around distribution, quality control of garments and order handling.
Earlier this month, Lithuaniabased Vinted raised 250 million euros 305 million to expand further in Europe and beyond, and said the fundraising put a premoney valuation on the business of 3.5 billion euros.
Sellpy said more…