Cos, part of the H&M Group, is launching its own second-hand platform called Resell, where customers can sell and buy clothes by COS. The platform is both a way towards 100 % sustainability, and a business opportunity.
Resell allows customers to buy and sell COS clothing, if they themselves make sure of the fulfilment and pay Cos a 10 % fee for the operational costs. In this way, Resell is similar to other rising stars in the second-hand world, like Vinted and The RealReal. The platform will start later this month in Germany and the United Kingdom, the rest of the world will follow before the end of the year.
The Swedish group is investing more and more in second-hand, be it through its its outlet and vintage concept Afound , the curated second-hand section in its new flagship stores and its 70 % stake in Swedish second-hand marketplace Sellpy the group acquired last year. The focus on second-hand is part of the Swedish fashion giant's ambition to only use recycled or sustainable materials by 2030. Its subsidiary Cos should, furthermore, become fully circular and renewable.
This is not the only target, however: second-hand is becoming big business. Last year, GlobalData predicted that the worldwide second-hand fashion market would double by 2023, reaching 43 billion euros. Specialist ThredUp even predicts that second-hand fashion will be as big as the whole fast-fashion industry by 2028.