In the first quarter the H&M group’s net sales in SEK increased by 12 percent to 54,872 million Swedish krona. In local currencies the increase was 3 percent. Excluding Russia, Belarus and Ukraine, the company said, the increase was 16 percent in SEK and 7 percent in local currencies. Operating profit amounted to 725 million Swedish krona...
Mar 30, 2023
Second-hand retail platform Sellpy has launched an app for its services that looks to provide users with a new touchpoint for “an improved customer experience”. H&M, which became a majority owner of the resale platform in 2019, aided in the company’s rapid growth over the past two years, launching it in over 24 markets in keeping with the rise...
Feb 25, 2022
Sellpy, a Swedish second-hand shop majority owned by H&M, will be expanding into 20 other countries. The news was reported by Business of Fashion. In an increased demand for sustainable fashionable, Sellpy has seen growth as more consumers turn to second-hand due to the eco-friendly aspects. Sellpy’s initial expansion will cover 20 new European...
May 31, 2021
H&M Group has announced the expansion of its second-hand fashion platform Sellpy to the Netherlands and Austria following its launch in Germany in the summer. “We see a steady growth in demand for sustainable consumption, where second-hand is a great option,” said Sellpy CEO Michael Arnör in a statement. “Every garment bought pre-owned saves...
Feb 2, 2021
H&M Group has announced the launch of its second-hand fashion platform Sellpy in Germany. The group first invested in the Swedish re-commerce platform in 2015 through its investment arm CO:LAB, before becoming its majority owner last year when it increased its overall stake to approximately 70 percent. “We see that the awareness and demand from...
Jun 30, 2020
H&M has become the majority owner of re-commerce platform Sellpy after reinvesting in the company and bringing its overall stake to approximately 70 percent. The move aims to support Sellpy’s international growth while also supporting H&M Group’s “strategic work to become fully circular,” the Swedish retail giant announced in a statement. H&M...
Oct 10, 2019