Brand Scales Sustainable Trade-In Initiative with Archive Partnership
- New Balance launches trade-in program in nearly 100 stores
- Partnership with Archive to scale Reconsidered program
- Customers can purchase secondhand shoes or ‘cosmetically imperfect’ items and trade them for vouchers
- Reconsidered features customer-sourced products and brand-owned inventory
- Secondhand products sell 2.6 times faster than brand supply
- Part of New Balance’s sustainability efforts
- New Balance is a member of Footwear Collective promoting circular footwear
- Lululemon expanded its recommerce program nationally in 2022
- Dick’s Sporting Goods expands resale partnership with SidelineSwap
- Canada Goose partners with Trove for resale program ‘Canada Goose Generations’
- Carhartt collaborates with Trove for resale program in 35 locations
New Balance is expanding its resale program, Reconsidered, in partnership with Archive. The initiative allows customers to purchase secondhand shoes or ‘cosmetically imperfect’ items and trade in pre-owned shoes for vouchers. This program features both customer-sourced products and brand-owned inventory. New Balance noted that secondhand products supplied by customers sell 2.6 times faster than its own supply. The Reconsidered program is part of the company’s sustainability efforts and it is also a member of Footwear Collective, an initiative promoting circular footwear. Meanwhile, athleticwear brands like Lululemon, Dick’s Sporting Goods, Canada Goose, and Carhartt have joined the resale trend by partnering with Trove for their own resale programs.
Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about various brands’ efforts towards sustainability and resale programs. It mentions specific examples of companies implementing resale initiatives and their impact on sales. The information is well-researched and objective.
Noise Level: 2
Noise Justification: The article provides relevant information about companies’ efforts towards sustainability and resale programs in the fashion industry. It highlights various examples of brands implementing resale initiatives and their impact on sales. The content is focused and informative without any unnecessary filler or misleading information.
Financial Relevance: Yes
Financial Markets Impacted: The article discusses companies in the athletic and outdoor apparel industry, such as New Balance, Lululemon, Dick’s Sporting Goods, Canada Goose, and Carhartt, which are implementing resale programs to promote sustainability and circular fashion. This could impact their financial performance and potentially affect the stock prices of these companies.
Financial Rating Justification: The article discusses financial topics related to the apparel industry and mentions events that impact companies in this sector as they adopt new strategies to address sustainability and resale trends.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in this article. It discusses companies expanding their resale programs and sustainability efforts.
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