H&M Announces “H&M Pre-Loved,” a Resale Program Enabled by thredUP’s Resale-as-a-Service®

H&M and thredUP(NASDAQ: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories, today announced "H&M Pre-Loved," a resale program that allows customers to shop secondhand products directly from its website. "H&M Pre-Loved"is powered by thredUP's Resale-as-a-Service® (RaaS®), which enables the world's leading fashion brands and retailers to deliver customizable, scalable resale experiences to their customers. H&M joins more than 40 other brands offering resale programs through RaaS, including J.Crew, Tommy Hilfiger, and Madewell.

"With our new "H&M Pre-Loved" resale shop powered by thredUP's Resale-as-a-Service, we're ensuring customers can find the largest amount of stylish, preloved H&M pieces ever to give them a second life," says Abigail Kammerzell, Head of Sustainability, H&M North America. "We need to take responsibility for the impact fashion has on climate and the environment. Circular business models can help us reduce and limit this negative impact, while continuing to deliver fashion and style for our customers. With the launch of our first resale model in the U.S. market, we're taking the next big step in that direction."

Through "H&M Pre-Loved," customers can purchase secondhand apparel, shoes, and/or accessories from H&M directly on its website at hm.thredup.com starting March 14, 2023. Garments are organized into several smaller sub shops of familiar H&M concepts including "&Denim", "Sport", "Ladies", "Divided" and "Kids". The "Collabs" sub shop features pieces from the retailer's many celebrated collaborations and guest designer lines from years past.

"We're thrilled that H&M has chosen to partner with thredUP to debut their first resale program in the U.S., building on their global momentum investing in new circular business models," said James Reinhart, CEO and Co-Founder of thredUP. "As one of the largest retailers in the world, H&M's impact potential is tremendous, and we are pleased that thredUP's Resale-as-a-Service is powering a scalable resale program to reach H&M's customers in a new and sustainable way."

H&M believes new ways of doing business need to be developed and implemented to make sure products are used more and for longer. Traditionally, fashion has followed a linear business model - take, make, discard. Circular business models, such as "H&M Pre-Loved" powered by thredUP's Resale-as-a-Service, the brand's garment collecting programenacted in 2013, as well as H&M Take Care, a digital hub at hm.com where customers can get tips and tricks on how to prolong and take care of their fashion, all break this chain to keep garments in use longer and to make sure those valuable resources are being maximized.

For more information, please visit hm.thredup.com. To learn more about thredUP's RaaS, visit raas.thredup.com.

About thredUP

thredUP is transforming resale with technology and a mission to inspire a new generation of consumers to think secondhand first. By making it easy to buy and sell secondhand, thredUP has become one of the world's largest online resale platforms for apparel, shoes and accessories. Sellers love thredUP because we make it easy to clean out their closets and unlock value for themselves or for the charity of their choice while doing good for the planet. Buyers love shopping value, premium and luxury brands all in one place, at up to 90% off estimated retail price. Our proprietary operating platform is the foundation for our managed marketplace and consists of distributed processing infrastructure, proprietary software and systems and data science expertise. With thredUP's Resale-as-a-Service, some of the world's leading brands and retailers are leveraging our platform to deliver customizable, scalable resale experiences to their customers. thredUP has processed over 137 million unique secondhand items from 55,000 brands across 100 categories. By extending the life cycle of clothing, thredUP is changing the way consumers shop and ushering in a more sustainable future for the fashion industry.