Garment trade-in service Bewearcy expands into US

Garment trade-in service Bewearcy has become available in the US.

The service provides a place for clients to give up old clothes and receive shopping credit in exchange. The shopping credit can then be used for discounts, taking 30 percent to 50 percent off a new purchase.

After successful collaborations with fashion brands in Russia, the service has already attracted retailers such as Benetton and Hugo Boss. Other brands on board include 12 Storeez, Charuel, Elyts and Akhmadullina Dreams. Founded in 2020 by Ivan Cherkashin and Oleg Abramov, it recently gained 420,000 dollars in investments.

According to Bewearcy, the service will increase average revenue for companies by 68 percent and customer retention by 77 percent. The secondhand market is also an increasingly lucrative one; estimated to double in the next five years, it is projected to reach 77 billion dollars according to the GlobalData 2021 Market, Sizing and Growth Estimate.

Sustainability in fashion is an increasingly relevant topic. Brands such as Pacsun and Barbour have launched their own garment recycling programs, encouraging the circular fashion model. Bewearcy also aims to “help brands become part of the circular economy.”

“The key idea behind it,” said founder Ivan Cherkashin, “ was to merge resale and retail markets and provide an opportunity for brands to get green and for consumers to renew wardrobes easily.”