The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The sportswear giant is the latest company to expand into the circular economy with its products.
Nike announced Monday that with Nike Refurbished, it would take back shoes that are “like-new, gently worn and slightly imperfect.” The company will fix them up and then sell them at a discounted rate to new shoppers. The program will be available in 15 stores in the US, with plans for expansion later this year.
Nike footwear has long been a powerful commodity in resale. Bringing a refurbish program in-house will help Nike see some of the profits that have gone to marketplaces like Fight Club. But the company isn’t offering a reward to shoppers for participating in the program the way brands like Madewell give shoppers $20 credit for bringing in old pairs of denim.
The company’s recent introduction of a marketplace model has led to a flood of listings for new, high-end goods by third-party sellers. Some brands aren’t happy, but there may not be much they can do.
A new study from Trove and Worldly found that if luxury and outdoor apparel brands can grow their resale offering to account for a quarter of total revenue, then they can substantially reduce carbon emissions. Fast fashion, not so much.
The US Federal Trade Commission filed a long-awaited antitrust lawsuit against Amazon on Tuesday, charging the online retailer with harming consumers through higher prices in the latest US government legal action aimed at breaking Big Tech’s dominance of the internet.
Malls across the US have been ‘flash robbed’ by groups of about 20 to 30 suspects stealing retail merchandise.