Fashion’s Sustainability Push Doesn’t Make Much Money
June 24, 2023
1,319
30
2
2.43%
Search the Record
IndexedEvery word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
Bloomberg News Episodes Around June 24, 2023
See what was published immediately before and after this episode.
0:59Now PlayingFashion’s Sustainability Push Doesn’t Make Much Money
YouTube Description
as posted by the channelResale has quickly emerged as the initiative of choice for fashion brands looking to lower their carbon, plastic and water footprints—or at least in some instances to convince green-conscious shoppers that they’re trying. But here’s the rub: So far even savvy brands such as Patagonia or Shein haven’t figured out how to make secondhand selling account for more than a tiny fraction of their profits.
More than 100 apparel retailers have started in-house resale platforms within the past two years, with 88 new programs last year alone, according to data from ThredUp Inc., which both operates an online thrift store business and has helped many brands set up their own resale programs. This includes some of the biggest brands, including H&M and fast-fashion champ Shein. In 2022 resale of apparel, footwear and handbags in the US was a $28.1 billion market, with potential for double-digit year-over-year growth in 2023 and 2024, according to predictions from Coresight Research.
--------
Subscribe to our YouTube channel
Subscribe to Bloomberg Originals
Bloomberg Quicktake brings you global social video spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
Connect with us on…
Breaking News on YouTube
Guests & Subjects Covered
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.