AMSTERDAM – Following the launch of its Switching Gear project in May of this year, Dutch duo Circle Economy and Fashion for Good (FFG) have on-boarded their first two brands keen to capitalise on opportunities in recommerce and rental.
The project’s Enabling Network comprises more than 30 experts in the aforementioned areas – with additional support from project partners ThredUp, RePack and Eileen Fisher, amongst others – and is there to be leveraged by brands keen to futureproof their business with sustainable fashion services.
This is not to discount the financial viability of such offerings. Online second-hand retailer ThredUp predicts the market value of re-circulated fashion to top US$64 billion by 2028 – for context, the market is worth US$24 billion at present – this would overtake the profitability of fast fashion, which has been tipped to reach closer to US$44 billion in the same time frame.
