Sellpy's online stores focus on sustainable fashion and are popular with the younger generation.
Online store of used goods Sellpyowned by a Swedish retailer H&Mannounced a significant expansion of its activities. The network of online stores of used goods will start working in 20 European countries.
The popularity of the online marketplace for the sale of second-hand goods is due to the fact that more and more buyers, especially among the younger generation, are thinking about the negative consequences of "fast fashion". Fashionistas and women of fashion prefer second-hand clothes of good quality, as this approach allows them to take care of the environment, moreover, the cost of production is usually lower than new analogues of the same brands.
Sellpy started its activity in 2014 in Sweden, after expanding the number of markets in which the online store is represented will reach 24. The peculiarity of the startup is that the platform itself takes over the entire process of selling used items, from receiving goods from sellers to photographing, selling as well as delivery. Since 2015, the Swedish retailer H&M, which by that time was already experiencing a decrease in sales and was in search of new sources of income, acquired the share of Sellpy. As a result, the company invested about $24 million in Sellpy and owns a stake in the startup in 70%.
According to Sellpy Head of Development Gustav Wessman: “Every used item you buy saves resources for our planet. Demand in our new markets is growing rapidly.” The company also emphasizes in its expansion announcement that the second-hand market is one of the fastest growing segments of the fashion industry today.