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.



Adidas Raises 2024 Guidance Again, Citing Good Brand Momentum

An Adidas shoe is seen in a store at the Woodbury Common Premium Outlets in Central Valley, New York, US, February 15, 2022.  (Reuters)
An Adidas shoe is seen in a store at the Woodbury Common Premium Outlets in Central Valley, New York, US, February 15, 2022. (Reuters)
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Adidas Raises 2024 Guidance Again, Citing Good Brand Momentum

An Adidas shoe is seen in a store at the Woodbury Common Premium Outlets in Central Valley, New York, US, February 15, 2022.  (Reuters)
An Adidas shoe is seen in a store at the Woodbury Common Premium Outlets in Central Valley, New York, US, February 15, 2022. (Reuters)

Adidas on Tuesday raised its full-year sales and profit guidance, citing better than expected performance in the third quarter and good brand momentum as it benefits from popularity of its three-striped Samba and Gazelle shoes.

The German sportswear brand raised its forecasts for the third time this year, saying it now expected currency-neutral revenues to increase by around 10% this year, having previously forecast a high single-digit rate.

Adidas also raised its profit forecast for the year to 1.2 billion euros ($1.31 billion) from 1 billion euros.

Over the third quarter, Adidas revenue grew 7% to 6.438 billion euros, slightly above analysts' estimates of 6.416 billion euros.