H&M Group has teamed up with Remondis to create a joint venture to collect, sort and sell used and unwanted garments and textiles.
Called Looper Textile Co. the standalone joint venture is owned 50% by H&M Group and 50% by Remondis.
H&M Group was the first fashion company to launch a garment collecting initiative worldwide in 2013. It has subsequently invested in several companies that develop technologies to enable textile recycling.
The group said this latest move will enable it to become more involved in developing the infrastructure to close “the loop of fashion” as it benefits from Remondis’s know-how in providing collection and sorting solutions at scale.
