Marks&Spencer incorporates new circularity services. The British company has announced a partnership with second-hand operator Sojo (specializing in clothing repairs and adaptations) to launch a new clothing repair service.
Founded in 2021 by Josephine Philips, Sojo has developed a business model for end customers and companies, whereby it collects garments, repairs or transforms them, and returns them. Soho already works with companies such as Ganni, Vestiare Collective or Temperley London.
The British department store group will create an online platform where its customers will be able to Select a range of repair services, from replacing a zipper to mending a sweater. Repair services will cost from £5 and will be carried out by Soho.
Marks&Spencer funds this initiative through its M&S Plan A Accelerator fund
The new repair service is part of Marks&Spencer’s plan in the field of circularitywhich also includes eco-design initiatives and percentages of recycled fibers.
The partnership with Soho is driven by the M&S Plan A Accelerator Fund, which aims to support innovation projects to combat climate change. At the beginning of the year, Marks&Spencer’s fund financed a project with Oxfam so that customers could donate their clothes.
The British department store operator ended the 2023 financial year (ended March 24) with a 9% increase in sales and raising its profit after taxes to 16%.
The company’s turnover amounted to £13.109 billion (€15.344 billion). The fashion and home accessories category alone grew by 5.3% compared to the previous yearwhich represented a turnover of 3.91 billion pounds (4.576 billion euros).
