H&M Group news and archive

H&M Foundation names new global manager

H&M Foundation, the philanthropic arm of H&M Group, has announced that Anna Gedda has joined the organisation as general manager. On her appointment, Gedda had already been with the fashion retail group for 15 years, first entering as a community investment coordinator and, most recently, holding the role of head of steering and strategic...

Business

H&M Group establishes joint venture to drive used textile sorting

H&M Group has announced a new joint venture with Remondis through the launch of a circular textile initiative, Looper Textile Co. The duo will own equal parts of the organisation, with H&M hoping to participate “more directly” in the development of circular fashion infrastructure, a press release stated. Meanwhile, the launch further builds on...

Fashion

& Other Stories announce collaboration with South African brand Sindiso Khumalo

Swedish high street brand & Other Stories has announced a partnership with with Cape Town-based Sindiso Khumalo for its next co-lab collection. Known for creating modern sustainable textiles that play on South African history, the brand’s colourful prints are based on Khumalo’s hand-painted watercolours and collage. The Sindiso Khumalo co-lab...

ManagementFeatured

H&M posts drop in operating profit, Q2 sales up 10 percent

H&M’s fourth quarter net sales increased by 10 percent to 62,433 million Swedish krona, while in local currencies, net sales were flat. Excluding Russia, Belarus and Ukraine the increase was 11 percent in SEK and 2 percent in local currencies. Net sales in SEK increased by 12 percent in the 2022 financial year to 223,553 million Swedish krona,...

Retail

Cos opens Stockholm flagship, its first new concept store in Europe

London-based brand Cos has opened the first store in Europe to feature its new “more sustainable” concept design. Located in Biblioteksgatan, Stockholm, the two-story store spans 566 square metres and features 66 percent more recycled material than the original Cos store design, the brand said. Lloyd Goldby, the global head of growth at Cos,...

Business

H&M teams up with WWF to launch AI app tackling deforestation

The H&M Group has revealed a new application made together with the World Wildlife Fund (WWF) that aims to support garment and textile factories in reducing their contribution to deforestation. The Wood Artificial Intelligence Application, also called the WoodAI App, utilises artificial intelligence (AI) to help identify wood species and provide...

BusinessFeatured

H&M Group begins ‘winding down’ in Russia

Following its decision to pause all sales in Russia, as announced March 2, the H&M Group has now said that it will be taking steps to wind down its business in the country, citing “operational challenges and an unpredictable future”. As part of the process, the group, which has been operating in the region since 2009, will temporarily reopen its...

RetailFeatured

H&M and Ingka Group open first Atelier100 space in London

The first Atelier100 space, backed by H&M and Ingka Group, has officially opened in London, showcasing a new sustainable and hyper-local approach to retail. Located at Livat Hammersmith in west London, Atelier100 is the first-of-its-kind collaboration between the Swedish retail giants and showcases creatives, makers and manufacturers who live...

Business

H&M to forego new suppliers who rely on coal

In the wake of COP26, the H&M Group has reiterated its commitment to take action on climate beyond the conference. Energy efficiency, renewable electricity and shifting towards a circular business model are the pillars of the group’s climate strategy with the active goal of achieving a climate positive value chain by 2040. The company has also...

Business

Large scale Ikea and H&M Group study shows potential of recycled textiles

Inter Ikea, the holding controlling the Swedish furniture giant Ikea, and the H&M Group initiated a large-scale study in 2019 to analyse the chemical content in recycled textiles. The aim of the study has been to strategically increase the knowledge and to overcome challenges to exchange data, and stimulate chemical transparency across the...

BusinessFeatured

H&M joins EU Green Consumption Pledge Initiative

H&M has announced its commitment to the EU Commission’s Green Consumption Pledge Initiative, aiming to create a more sustainable future for the fashion industry. The pledge allows companies to make a public commitment to reduce their coverall carbon footprint and produce more sustainable products. H&M’s vision is to become climate positive by...

Retail

Monki launches new app

H&M Group-owned brand Monki has launched a new app with a focus on community interaction as well as offering inspiration and services to help customers make their clothes last longer. With a feature called M.IN.T Care, users can order wash, repair or redesign services directly from the app to help care for and repair their clothing. The app also...