Today H&M Group announces a new follow-on investment in Sellpy, a re-commerce platform, to support Sellpy's international expansion. The investment also supports H&M Group's strategic work to become fully circular.
H&M Group started investing in Sellpy in 2015, and has since then participated in all investment rounds through its investment arm CO:LAB. With its recent investment and purchase of secondaries, H&M Group has gone from being a minority shareholder to a majority owner, with an approximate 70 percent stake in Sellpy.
"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", says Nanna Andersen, Head of CO:LAB.
Second-hand is one of the fastest growing business sectors within the fashion industry, enabling for a sustainable, modern and personal customer offer and experience. It is a business opportunity H&M Group wants to be part of exploring, as it helps customers give their old clothes a new life through reuse, thus contributing to a closed loop for fashion.
Sellpy was founded in 2014 and has since then grown into a successful re-commerce platform with great potential in expanding its current offer into a complete platform for second-hand fashion. Sellpy is now preparing for an international expansion, starting with Germany, which H&M Group is supporting by this new investment.
"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", says Michael Annör, CEO of Sellpy.
H&M Group has through CO:LAB invested approximately SEK 50 million in Sellpy since 2015. Recently, H&M Group also bought secondaries for SEK 92 million and made a follow-on investment of SEK 40 million. In addition, H&M Group will invest an additional SEK 60 million (in two different installments) within a few years. When the full investment is carried through, H&M Group will have an approximate 74 percent stake in Sellpy.
Sellpy is one of several long-term investments that CO:LAB has made within three different categories: innovative business models, sustainable fashion and enablers. These mutual collaborations allow H&M Group, together with leading entrepreneurs in the industry, to explore what the future of fashion could be.
For additional information, please contact:
Katarina Kempe, Head of Media Relations H&M Group
+46 (0)8 796 53 00
H & M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on Nasdaq Stockholm. H&M's business idea is to offer fashion and quality at the best price in a sustainable way. In addition to H&M, the group includes the brands COS, Monki, Weekday, & Other Stories, H&M HOME and ARKET as well as Afound. The H&M group has 50 online markets and more than 4,900 stores in 73 markets including franchise markets. In 2018, net sales were SEK 210 billion. The number of employees amounts to approximately 177,000. For further information, visit hmgroup.com.
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