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Inditex’s Zara to Launch Second-Hand Platform in France on Sept 7

The Zara clothing store logo is seen at the entrance of a store in Brussels, Belgium November 28, 2022. REUTERS/Yves Herman/File Photo Acquire Licensing Rights
The Zara clothing store logo is seen at the entrance of a store in Brussels, Belgium November 28, 2022. REUTERS/Yves Herman/File Photo Acquire Licensing Rights
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Inditex’s Zara to Launch Second-Hand Platform in France on Sept 7

The Zara clothing store logo is seen at the entrance of a store in Brussels, Belgium November 28, 2022. REUTERS/Yves Herman/File Photo Acquire Licensing Rights
The Zara clothing store logo is seen at the entrance of a store in Brussels, Belgium November 28, 2022. REUTERS/Yves Herman/File Photo Acquire Licensing Rights

Spanish fashion retailer Zara will expand its service to sell, repair or donate second-hand clothes in France from Thursday, its owner Inditex (ITX.MC) said on Wednesday.

The service, which will be available through Zara's stores, its website and a mobile app, already exists for its British customers since last October. The company's chief executive Oscar Garcia Maceiras has said it will be launched in Germany also this year.

The company aims to extend the life of customers' Zara clothes, contribute to the reduction of waste and the consumption of new raw materials, it said in a statement, Reuters reported.

Zara has also said 40% of clothing pieces will be made with recycled fibres by 2030 and it is backing charities such as Moda Re which manage textiles waste. The company seeks to reduce its carbon emissions by 50% by 2030 and by 90% by 2040.

Zara is following other fast fashion brands such as its main competitor H&M (HMb.ST) in offering products for resale at a time when the global second-hand apparel market is growing.

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Dolce&Gabbana CEO Ready to Open Capital to New Investors

The logo of Italian designers Dolce & Gabbana is seen at a branch office at Bahnhofstrasse shopping street in Zurich, Switzerland September 9, 2020. REUTERS/Arnd Wiegmann
The logo of Italian designers Dolce & Gabbana is seen at a branch office at Bahnhofstrasse shopping street in Zurich, Switzerland September 9, 2020. REUTERS/Arnd Wiegmann
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Dolce&Gabbana CEO Ready to Open Capital to New Investors

The logo of Italian designers Dolce & Gabbana is seen at a branch office at Bahnhofstrasse shopping street in Zurich, Switzerland September 9, 2020. REUTERS/Arnd Wiegmann
The logo of Italian designers Dolce & Gabbana is seen at a branch office at Bahnhofstrasse shopping street in Zurich, Switzerland September 9, 2020. REUTERS/Arnd Wiegmann

Dolce&Gabbana is ready to consider opening up its capital to new investors either through a listing or other routes, the Italian fashion house's CEO said.
"We are now ready to consider opening our capital to third parties through a listing or other financial instruments," CEO Alfonso Dolce said in an interview published on Monday in Corriere della Sera's L'Economia weekly supplement.
The financing must "not compromise the ethical value of our company, its respectful growth," said Dolce, brother of Domenico, who founded the group and runs it in partnership with Stefano Gabbana, Reuters reported.
In May, the CEO did not rule out a possible future stock market listing, but said the move was not a priority.
Dolce&Gabbana's revenue for the 2023-2024 fiscal year, which ended in March, was up 17% to 1.871 billion euros ($2.04 billion), said Dolce, adding that he hoped to repeat this growth this year.
The fashion house will open 12 new stores in the US, including at 695 Madison Avenue in New York, the former Hermes location, with more than 2,000 square meters over five floors.
"The United States are vital, we already have 72 stores, plus four in Canada, together they represent 28% of our turnover, compared to 16% in China," said Dolce.