Bharat Tex: Garment resale befitted response to environmental concerns

Komal Hiranandani, Director of Dolcevee, a sustainable clothing brand, said in the session, “The fashion industry stands at a crossroads, with mounting environmental concerns and untapped economic potential. The burgeoning resale market is a key solution to these concerns.

A recent study revealed that 24 per cent of Indians have purchased pre-owned fashion, indicating a strong consumer appetite. Beyond the obvious environmental benefits, resale offers significant economic advantages. The Ellen MacArthur Foundation estimates that consumers globally lose $460 billion annually by discarding reusable clothing. Unlocking the logistics of resale is crucial to capitalising on this lost value.

Experts said that while downcycling and fibre-to-fibre recycling are important, prioritising resale for garments with remaining life is the most economically and environmentally sound approach. The global resale market is booming, growing at an 11 per cent compound annual growth rate. Leading brands, from Gap to Gucci, are embracing resale programmes, recognising its integral role in the future of fashion.

In India, managed marketplaces, where items are quality-controlled, are deemed more suitable than peer-to-peer resale. This ensures brand integrity and customer satisfaction. Furthermore, integrating resale into return processing can significantly reduce waste.

Optoro's 2022 data shows that retailers in the US landfilled 9.6 million pounds of returned products. Resale offers a viable alternative, allowing returned items to be resold either on the brand's website or through managed marketplaces, generating revenue and minimising waste. The key lies in establishing strategic partnerships and efficient logistics to unlock the full potential of the resale revolution.

ALCHEMPro News Desk (KUL)