Sellpy expand across Europe
May 31, 2021
Sellpy, a Swedish second-hand shop majority owned by H&M, will be expanding into 20 other countries. The news was reported by Business of Fashion.
In an increased demand for sustainable fashionable, Sellpy has seen growth as more consumers turn to second-hand due to the eco-friendly aspects. Sellpy’s initial expansion will cover 20 new European markets bringing the company’s total number of markets to 24.
Sellpy is unique in that it handles the entire sales process from picking up goods from sellers homes to the photographing and putting it live for sale. According to Sellpy, second-hand is one of the fastest growing fashion categories in the world.
H&M is currently betting handsomely on Sellpy. With sales of their H&M line being stagnant for some years, the company has begun looking at other revenue streams. To date, H&M has invested 20 million euros in Sellpy and owns 70 percent of the company.