Inditex will take Zara’s second hand to other markets in 2023 after ‘testing’ in the UK

Inditex expands its commitment to second hand. Galician fashion distribution group, number one in the sector in terms of turnover, It will bring the used Zara platform to some of its key markets in 2023 After a short trial period in the UK.

This was announced by the company during a presentation with analysts who That day came after the group’s results were released, referring to the third quarter of fiscal year 2022. The group did not detail which markets it will take Zara’s used services to, under the Zara Pre-Owned name.

The initiative launched on November 3 exclusively in the UKIncluding Garment repair, resale and donation services integrated in some Zara stores in the country.

Inditex has confirmed that Zara’s second-hand service will not initially be profitable when it launches in the UK

also, A section dedicated to Zara Pre-Owned has opened on the website and in the application of the Inditex chain Through it, customers who want to sell their products can photograph the clothes, and Zara is responsible for providing detailed information on each one on its platform, where the products are organized by category.

Payment is processed through Stripe and buyers’ data is shared with the seller upon approval of the sale. By launching this service, Inditex assured that it would not be profitable at first.

The launch of Zara Pre-Owned was Inditex’s first foray into the used services space. The company has had containers in its facilities since 2016 for consumers to deposit their clothes for donation.

Inditex closed the first nine months of the fiscal year (period ending in October) Its turnover amounted to 23,055 million euros, 19% more than the same period of the previous year. For its part, net profit amounted to 3,095 million euros, up 24%.

In the third quarter, the growth was 11.1%, lower than the previous quarter, and the net profit recorded an increase of 5.5%, which is also more moderate than at the beginning of the year.