H&M Group is establishing an independent joint venture (JV) with recycling company Remondis with the intention of collecting, sorting and selling used and no longer used textiles, thus preserving their highest value and utility as a textile resource.
H&M Hennes & Mauritz AB, Stockholm/Sweden, was the first fashion company to launch a garment collecting initiative worldwide in 2013 and has, through its investment arm H&M CO:LAB, invested in companies that develop technologies to enable textile recycling. With the creation of this standalone JV, H&M Group is participating more directly in developing the infrastructure that is necessary to close the loop of fashion. Remondis SE & Co. KG, Lünen/Germany, is a long-standing leader in waste management, with invaluable know-how in providing collection and sorting solutions at scale.
Looper Textile Co., a standalone JV owned 50% by H&M Group and 50% by Remondis, has set itself the goal to collect, sort and sell used and unwanted garments and textiles and thereby extend the use of these valuable resources.
»We are convinced that the textile loop, due to its very high complexity, can only be closed with trusting, innovative and like-minded partners along the value chain and are pleased to have found the synergy between H&M Group and Remondis. «
Marc Schubert, COO, Looper Textile Co.
Looper’s aims to become a preferred feedstock provider to companies and innovators engaged in textile resale and recycling. Looper is starting its operations in Europe and aims to extend the use of approx. 40 million garments during 2023. The company plans to innovate within textile collection and sorting, for example by testing new collection schemes and implementing automated sorting technologies such as near-infrared sorting, as well as by developing an assortment of partners in the areas of reuse and recycling.