Fashion trade-in service and tech platform, Bewearcy, has announced it is expanding into the US as part of its international growth plan, with the signing of new fashion brands 12 Storeez and United Colors of Benetton.
According to the company, it projects huge market opportunities within the US, stating that secondhand apparel in the region is “expected to multiply in value in 2022, up to 77 billion dollars”.
The platform enables shoppers to trade preloved clothing for shopping points, which can be used to buy from affiliated brand partners.
Last month, Bewearcy signed Hugo of Hugo Boss in Russia and has stated it is looking to acquire more global brands over the coming months.
A statement by the company’s CEO, Ivan Cherkashin, expressed the intent “to merge resale and retail markets with a strong brand and customer benefit approach”. He noted: “Giving fashion customers a trade-in option, promotes brand loyalty which increases average sales over time, promising a 68 percent rise in average revenue to the brand.”
The trade-in process provides shoppers with an arranged courier pick up, transporting the garment to Bewearcy’s warehouse at which it will be assessed for cost and condition. The items are sent to multiple resale websites to track down a new owner, after which the customer will receive a notification that their shopping points are now certified.