H&M dives deeper into circular economy with start-up investment

This is an archived article - we have removed images and other assets but have left the text unchanged for your reference

H&M is furthering its progress towards a more “circular” business model as it increases its investment in a reselling start-up.

The fashion retailer has now invested around €4.6 million (SEK 50 million) into the “re-commerce” platform Sellpy, making it the majority owner with a share of 70%. H&M plans to spend an addition €5.5 million into the company over the next few years, giving it a 74% stake.

Founded in 2014, Sellpy offers a consumer portal for selling second-hand clothing. It will use the funding from H&M to expand from Sweden into Germany.

H&M first invested in Sellpy 2015 and has been gradually increasing its stake in the company.

In the long term, the retailer views second-hand clothing as one of the fastest growing sectors in fashion.

Nanna Andersen, head of H&M’s investment arm CO:LAB, said: “We keep investing in Sellpy because we strongly believe in the company and the founders. Sellpy has a unique circular business model, which perfectly aligns with H&M Group’s vision to become fully circular.”

Michael Arnör, CEO of Sellpy, said: “We are excited to continue to work even closer with H&M Group to empower everyone to live circular, regardless if they live in Sweden or elsewhere. With the support of H&M Group we can continue to innovate and drive awareness and adoption of re-commerce.”

Read More

Subscribe to our email community

Created with Sketch.
Receive the latest news
Created with Sketch.
Be the first to hear about our research
Created with Sketch.
Get VIP access to our events
DOWNLOAD OUR NEW REPORT

Warehousing 2025

The InternetRetailing Warehousing 2025 report explores this critical stage of the direct-to-consumer journey