H&M is now the majority shareholder in Sellpy, a re-commerce platform that sells secondhand clothes. H&M started investing in Sellpy in 2015, and has since then participated in all investment rounds. The most recent investment gives the retail group a 70 per cent stake in Sellpy. Once the full investment is carried through, H&M will have an approximate 74 per cent stake in Sellpy.

Founded in Sweden in 2014, Sellpy is now preparing for international expansion, starting with Germany. H&M’s support will enable the business to innovate and drive awareness and adoption of re-commerce. H&M will keep investing in Sellpy because it strongly believes in the company and the founders. Sellpy happens to have an unique circular business model, which perfectly aligns with H&M’s vision to become fully circular. Sellpy is one of several long-term investments that H&M has made in recent years. In 2018, the retailer took a stake in the men’s fashion e-tailer Thread and the buy now pay later solution Klarna.

Donators can track the items being sold on Sellpy’s app and either have it transferred directly to their bank accounts or choose to donate it to a number of partnering charities. Anything not sold will also be donated to charity.