E-commerce giant Steve Madden introduces credit incentives for customers who recycle their worn-out clothing and footwear.
In the ever-evolving fashion industry, Steve Madden is making strides towards a more sustainable future. The footwear and apparel giant has partnered with several platforms, including Trashie and Recurate, to implement circular fashion programs.
Steve Madden's partnership with Trashie, a circular fashion platform, has led to the creation of Re-Booted, an in-house resale platform. This initiative allows customers to sell their used Steve Madden items and receive a credit towards new ones. The partnership also involves a recycling and take-back program, where customers can purchase a Take Back Bag for $20, which includes a prepaid shipping label.
The Take Back Bag can be filled with old clothes and shoes from any brand, not just Steve Madden. Sent items to Trashie's recycling facility are given a specific "grade" based on category, size, quality, and fabrication. Up to 95% of the collected items are kept out of landfills according to Trashie, making this an environmentally friendly initiative.
Steve Madden's commitment to sustainability doesn't stop at fashion. The company, which also owns Dolce Vita, Betsey Johnson, and Blondo brands, has also partnered with Recurate for its resale platform. This partnership is part of Steve Madden's broader strategy to reduce its environmental footprint.
The company's efforts have paid off. Steve Madden reported a Q2 revenue increase of 17.6%, with the revenue increase attributed to "exceptional growth" in the accessories and apparel categories. The company also sold its Greats brand to Unified Commerce Group, further streamlining its focus on sustainable fashion.
Steve Madden's sustainability initiatives extend beyond its partnerships. The company bought apparel brand Almost Famous for $52 million, signaling its commitment to the fashion industry's future. Additionally, customers receive a $25 credit on the Steve Madden e-commerce platform for sending the bag, incentivizing participation in the recycling program.
Trashie also offers rewards at Regal Cinemas, further demonstrating the company's commitment to a circular economy. With partnerships like these, Steve Madden is setting a strong example for the fashion industry in terms of sustainability and circular fashion.
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