H&M Group continues to invest in Sellpy
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 Arnör, 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.
