Swedish fashion giant H&M Group has formed a partnership with waste management firm Remondis to create a joint venture that will collect, sort and sell used and unwanted garments and textiles.
This standalone joint venture is named Looper Textile Co., and is 50 per cent owned by H&M and 50 per cent by Remondis. The firm’s main objective will be collecting and sorting unwanted textiles and clothes into different streams so that they can be reused and recycled.
According to the companies, today less than 40 per cent of used clothes are collected in the EU, with 60 per cent post-consumer textiles going directly to waste. The companies hope to move one step closer toward enabling circularity by building infrastructure and solutions for the collection and sorting thereby minimising the CO2 impact and improving resource efficiency.
“With the creation of this standalone joint venture, H&M Group is participating more directly in developing the infrastructure that is necessary to close the loop of fashion. Remondis is a long-standing leader in waste management, with invaluable know-how in providing collection and sorting solutions at scale. We are convinced that the textile loop, due to its very high complexity, can only be closed with trusting, innovative and like-minded partners along the value chain and are pleased to have found the synergy between H&M Group and Remondis,” said Emily Bolon, CEO of Looper Textile Co.
Looper aims to become a preferred feedstock provider to the companies engaged in resale and recycling of textiles. Starting its operations in Europe, the joint venture aims to extend the highest use of approximately 40 million garments during 2023.
Bharat Tex Special Report 2026 
