- Children’s apparel brand, Peekaboo Beans (BEAN) has reported strong customer responses to its environmentally friendly RePlay initiative
- The program allows customers to buy PK Beans clothing second-hand, along with repurposed items using old PK Beans fabrics
- PK Beans’ RePlay initiative helps to reduce landfill, encourages slow fashion practices, and promotes environmental sustainability
- The company has seen steady growth in demand for the program, along with considerable margin increases
- Peekaboo Beans (BEAN) remains unchanged and is currently trading at C$0.03 per share
Children’s apparel brand, Peekaboo Beans (BEAN) has reported strong customer responses to its environmentally friendly RePlay initiative.
The RePlay program allows customers to buy PK Beans clothing second-hand. They can also purchase repurposed items, such as wall art, home décor, dog toys, scrunchies, and more. Many of the repurposed items use old PK Beans fabric, from styles which might otherwise end up being thrown away.
Overall, PK Beans’ RePlay initiative helps reduce landfill, encourages slow fashion, and promotes environmental sustainability.
The company’s CEO, Traci Costa, commented on the growing movement that is pushing businesses and industries towards greener practices.
“Brands are going to have to find ways to remain relevant to the environmentally savvy consumer.
“PK Beans joins brands like Nordstrom’s and Patagonia, who have pioneered the second-hand market. We can do this because of the quality and longevity of our product.
“The margins and flexibility of product offering make this a very attractive business strategy, combined with our responsible sustainability efforts and the positive impact this plays on our environment,” she said.
Since launching in April, the RePlay program has been met with a positive reception and steady growth in demand. Thus far, customers have bought a total of 390 vintage and repurposed items, selling out weekly product launches.
Second-hand and vintage PK Beans items currently provide the company with a 56 per cent margin. PK Beans’ repurposed items can boast an even higher gross margin of 86 per cent.
The company intends to continue developing the RePlay initiative, by expanding its product and style offerings.
Peekaboo Beans (BEAN) remains unchanged and is trading for C$0.03 per share at 10:45am EDT.
