By Joshua Kirby
Hugo Boss AG presented plans for new resale and repair services on Thursday in a bid to boost circularity and meet its sustainability goals, becoming the latest clothing company to weigh in on the growing fashion segment second hand.
German high-end fashion company Hugo Boss Pre-Loved’s resale platform will allow customers to return used items in exchange for credit. These items, initially clothing, with accessories to be added to the service later, will then be sold as part of a curated second-hand range, the company said.
Hugo Boss Pre-Loved will launch in the third quarter of this year and will be operated by French resale provider Faume. Available via the Hugo Boss website, it will launch first in France, with plans to expand into the company’s home market in Germany, as well as the UK and US, in 2025.
Second-hand clothing is a growing share of the fashion industry, growing 9% in 2020 to reach double-digit penetration in the overall market, according to a report by Bain & Co. Second-hand fashion is particularly popular among younger consumers, according to the report. mentioned.
Hugo Boss is not the first brand to create its own resale platform. Last year, German sportswear giant Adidas AG launched a partnership with the ThredUp platform on a service called Choose to Give Back, in which customers can send used clothes from any brand to Adidas for resell or reuse them.
“Clothing brands are gradually overcoming fears that second-hand goods will eat away at sales of first-hand goods, and so are poised to better control this resale channel,” Bryan Garnier analysts said in a research note. following the announcement of the Adidas merger. The segment’s financial attractiveness was demonstrated when London-based resale app Depop was sold for $1.63 billion to US e-commerce company Etsy in a deal disclosed in June of the year. last year.
Introducing its new service, Hugo Boss highlighted resale sustainability credentials, noting its benefits in reducing clothing waste and reducing emissions associated with purchasing new items. The platform will help the company achieve its sustainability goals, which include eight out of 10 elements to be circular by 2030, he said.
Alongside the resale service, the company is also launching a maintenance and repair service in selected stores in Germany from next year. The service will cover the repair of suits, jeans, shoes, jersey products and leather goods and will be extended to other markets, Hugo Boss said.
“The high quality of our products allows them to have multiple lives, and our entry into the growing resale market is a natural step for us as a company,” said Heiko Schaefer, CEO of Hugo. Boss.
Meanwhile, the company said it plans to outline a more detailed circular product policy by the end of the month. The policy “will create even more transparency around this topic,” Hugo Boss said.
Write to Joshua Kirby at [email protected]; @joshualeokirby