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The global fashion business journal

Oct 20, 20198:51am

H&M raises its secondhand bet: takes majority stake in Sellpy

Through Co: Lab, the Swedish company has invested 5 million dollars in Sellpy since 2015. In the next couple of years, the group plans to invest another 6 million dollars.

Oct 10, 2019 — 4:37pm
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H&M raises its secondhand bet: takes majority stake in Sellpy

 

 

H&M raises stake in Sellpy. The company, that started investing in the Swedish secondhand platform in 2015, has taken a majority stake in the company with around 70%.

 

Since 2015, Co:Lab, H&M investing arm, has participated in all the financing rounds of the company, with an accumulative investment of 5 million dollars. Recently, H&M has also acquired a new pack of shares for 9.2 million dollars and has injected other 4 million dollars.

 

 

 

 

The company has also stated in a press realaese that is planning to invest another 6 million dollars in two financing rounds in the “next couple of years”. This will raise their stake up to 74%.  “Sellpy has a unique circular business model, which perfectly aligns with H&M Group’s vision to become fully circular,” stated Nanna Andersen, Head of Co:Lab.

 

“Secondhand is one of the fastest growing business sectors within the fashion industry; it is a business opportunity H&M group wants to be a part of exploring,” the company said. H&M said it wants to further explore to contribute to a close the loop for fashion.  

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