H&M



H&M

December 06, 2012 09:00 ET

H&M Set to Be the First Fashion Company to Launch a Global Garment Collecting Initiative

TORONTO, ONTARIO--(Marketwire - Dec. 6, 2012) - H&M is the first fashion company to launch a garment collecting initiative worldwide. Starting in February 2013, customers will be able to bring in used garments to H&M stores in all 48 markets where they will then be reused, recycled or donated to be re-worn. Sustainability is an important part of H&M's offering, and H&M strives to reduce the environmental impact of clothes throughout their lifecycle.

"Our sustainability efforts are rooted in a dedication to social and environmental responsibility. We want to do good for the environment, which is why we are now offering our customers a convenient solution: to be able to leave their worn out or defective garments with H&M," says Karl-Johan Persson, CEO H&M.

H&M will be the first fashion company to roll out garment collecting in selected stores worldwide. Through the global initiative H&M's customers can save natural resources and contribute to reduced environmental impact by avoiding textile waste. Any pieces of clothing, from any brand and in any condition are accepted. In return, the customer will receive a voucher offering $5 off their next purchase of $30 for each bag brought. The collected garments are then handled by H&M's partner, I:Collect, which provides the infrastructure in which consumer goods are repeatedly reprocessed and made available for new use.

Every year tonnes of textiles are thrown out with domestic waste and end up in landfill. As much as 95 percent of these clothes could be used again; re-worn, reused or recycled - depending on the state of the garment. Long-term, H&M wants to reduce the environmental impact of garments throughout the lifecycle and create a closed loop for textile fibres. The aim is to find technical solutions to reuse and recycle textile fibres on a larger scale, which is why H&M has set up its Conscious Foundation: to support innovation on closing the loop on textiles and social projects along H&M's value chain.

H & M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on NASDAQ OMX Stockholm. The company's business concept is to offer fashion and quality at the best price. In addition to H&M, the group includes the brands COS, Monki, Weekday and Cheap Monday as well as H&M Home. The H&M Group has approximately 2,700 stores in 48 markets, including franchise markets. In 2011, sales including VAT were SEK 128,810 million and the number of employees was more than 94,000. For further information, visit hm.com.

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