// Sellpy, majority-owned by H&M, to expand into The Netherlands & Austria after German launch last summer
// It is not yet clear when or if there are plans to bring the platform to the UK
H&M has announced plans to expand online second-hand fashion retailer Sellpy into The Netherlands and Austria.
The Swedish retail giant has been investing in Sellpy since 2015 and became its majority owner in 2019, when it increased its stake to 70 per cent.
Sellpy’s first expansion move outside of Sweden was in Germany last summer.
- H&M “significantly affected by pandemic” as profits drop 88%
- H&M buys majority stake in resale giant Sellpy
It is not yet clear when or if there are plans to bring the platform to the UK.
Unlike other resale services like Depop, Sellpy collects a bag of unwanted clothes from customers, sorts through them then sells the goods on its own platform, giving customers 40 per cent of the proceeds.
Donators can track the items being sold on Sellpy’s app and either have it transferred directly to their bank accounts or choose to donate it to a number of partnering charities.
Anything not sold is donated to charity.
“We’re excited about Sellpy’s continued international expansion which we support with our investment and strategic partnership,” said Nanna Andersen, head of CO:LAB at H&M Group.
“We truly believe in the entrepreneurs and team behind Sellpy and their unique circular business model, which perfectly aligns with our vision to become fully circular.”
Sellpy chief executive Michael Arnör said: “We see a steady growth in demand for sustainable consumption, where second-hand is a great option.
“Every garment bought pre-owned saves resources for our planet. It’s therefore very exciting that we continue to grow and empower more customers in Europe to live circular.”