What: With this second-hand footwear programme, the sportswear giant is the latest company to expand into the circular economy with its products.

Why is it important: Nike being strong in resale, the programme will help the company see some of the profits that have gone to marketplaces.

Nike announced it would take back shoes that are “like-new, gently worn and slightly imperfect.” The company will fix them up and then sell them at a discounted rate to new shoppers. The program will be available in 15 stores in the US, with plans for expansion later this year.

The company isn’t offering a reward to shoppers for participating in the program.

Items that can’t be restored to a like-new level can be donated to a community partner or recycled into materials and products through Nike Grind, a programme recycling over 130 million pounds of waste, according to Nike.

Nike Is Launching a Secondhand Footwear Programme

Nike launches refurbishment programme in 15 stores