Shein will compete with Inditex in the second hand segment: launching its Exchange platform in Spain in 2024

Chinese online platform Shein is preparing to launch its platform for buying and selling second-hand clothing, known as Shein Exchange, in Europe.

After launching in the US, the company's global director of strategy, Peter Pernot, explains that "a launch in France and Germany is imminent", while "in Spain it will probably be available by 2024".

The company will thus compete directly with Inditex, which is also preparing the launch of its Zara Pre Owned platform in Spain, first launched last November in the UK and which they also plan to introduce in all their main markets next year.

Like Inditex, the aim of this Chinese online giant, as Pernod explains, is to "encourage the circular economy and reuse, extending the life of products" as well as capitalizing on the strong demand in the market.

Second-hand clothing is in full development and is already growing 12 times faster than so-called fast fashion. With rising prices, this market segment has grown from $40 billion (€37.6 billion) in revenues globally to over $120 billion (approximately €113 billion) over the past year, according to a report by Boston Consulting Group.

Shein Exchange explains that "the launch was inspired by their community of customers and social media followers who have expressed their interest in secondhand platforms where secondhand goods can be bought and sold without the barrier of high commissions that are typically required."

Group explains that by doing so, they aim to "meet community demand by providing a unique place where customers will become active participants in circularity and promote the benefits of buying clothes second hand versus buying new items.