Hugo Boss has recently announced its plans to launch a premium resale platform called Pre-Loved in the third quarter of this year. This platform will allow customers to purchase pre-owned items from Hugo Boss brands in the same way they would buy new items. This move is a significant part of the company’s overall sustainability strategy.
Initially, Pre-Loved will primarily focus on clothing, with plans to expand to accessories at a later stage. The first market to experience this new concept will be France, followed by Germany, the UK, and the US in 2025.
To develop the Pre-Loved platform, Hugo Boss has entered into a partnership with Faume, a premium provider that offers an online trade-in experience. Customers will have the option to return used items to Hugo Boss in exchange for credit that can be used online, for purchasing either new or pre-owned items, or in-store. All items will undergo a thorough quality check and will be included in a curated secondhand assortment for sale on Pre-Loved.
The popularity of the resale market has been on the rise worldwide due to various factors, such as the rejection of fast fashion, the desire for quality pieces at affordable prices, and growing sustainability concerns. It is estimated that the resale market is worth between $30 billion and $40 billion.
Furthermore, in addition to the launch of the Pre-Loved platform, Hugo Boss plans to introduce a care and repair service in selected German stores later this year. This service will cover the repair of suits, jeans, shoes, jersey products, and leather goods. By extending the lifecycle of its products, Hugo Boss aims to move towards a circular business model and reduce the consumption of scarce resources.
Heiko Schäfer, the COO of Hugo Boss, believes that their products have high quality and can have multiple lives. He views their entry into the growing resale market as a natural step for the company, supporting their move towards a circular business model. Additionally, through their repair service, customers will be able to enjoy their favorite pieces for longer, contributing to the reduction of consumption of scarce resources.
In conclusion, Hugo Boss is making significant strides in sustainability with the launch of the Pre-Loved platform and the introduction of a care and repair service. These initiatives align with the growing popularity of resale and the company’s commitment to reducing its environmental impact.
Useful links:
1. Hugo Boss Sustainability
2. Faume
