Neiman Marcus, H&M join growing list of brands that are tapping the resale market [MarketWatch]
Walmart Inc. (WMT)
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Source: MarketWatch
Neiman Marcus, H&M join growing list of brands that are tapping the resale market Neiman Marcus announced Wednesday that it has inked a deal to acquire a minority stake in Fashionphile LLC, a secondhand e-commerce seller of luxury handbags and accessories founded in 1999. It has an inventory of 15,000 items. And global fast-fashion giant H&M Hennes & Mauritz AB is testing a program with its brand ‘& Other Stories’ and the Swedish secondhand platform Sellpy, adding to the list of brands that are taking a serious look at the potential of the resale market. H&M HMB, +0.52% says the & Other Stories brand has a “strong presence” in the secondhand market, and is sought-after on Sellpy. “For us, it’s such a compliment to see our pieces find new homes and get a second chapter,” said Sanna Lindberg, managing director of & Other Stories, in a statement. It’s not just a compliment. It can also be pretty lucrative. “This is the biggest opportunity in the supply chain, period,” said Andy Ruben,
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