Financial Results

H&M Group Reports Strong Q2 Performance With 52% Increase In Profit

June 30, 2024

The H&M Group has reported a robust performance in the second quarter of 2024, with net sales increasing by 3% to SEK 59,605 million and gross profit rising by 11% to SEK 33,569 million. The company’s gross margin improved to 56.3% from 52.7% in the same period last year. Operating

Financial Results

Syre Secures $100 Million Series A Funding For Textile Recycling

May 26, 2024

Syre, the textile impact company initiated by Vargas and H&M Group, has secured a $100 million Series A funding round. Led by TPG Rise Climate, the round included investments from H&M Group, Giant Ventures, IMAS Foundation, Norrsken VC, and Volvo cars. CEO Dennis Nobelius expressed excitement about the ambitious investors joining their mission to drive […]

Apparel, Fashion, Retail

Swedish Apparel Retailer H&M Moves Towards Textile Circularity

Textile Insights March 7, 2024

H&M Group and Vargas Holding launched Syre, a new initiative to manufacture textile-to-textile recycled polyester fibre. Syre is also backed by TPG Rise Climate and aims to rapidly scale textile-to-textile recycling of polyester and contribute to a more sustainable textile industry. H&M Group has signed an agreement with Syre to purchase US $600 million worth […]

Apparel, Fashion, Retail

Daniel Ervér Appointed President And CEO Of H&M Group

February 4, 2024

The board of directors at Hennes & Mauritz AB has appointed Daniel Ervér as the new President and CEO of the H&M Group. This decision follows the departure of Helena Helmersson, who has gracefully stepped down from her role as CEO. Daniel Ervér, born in 1981, brings a wealth of experience to the position, having […]

Sustainability

Swiss Textile Recycling Ecosystem Launched To Pioneer Circular Economy

January 21, 2024

The Swiss Textile Recycling Ecosystem has been officially launched, uniting key players from the entire textile value chain to foster a circular economy. At the core of this initiative is an innovative recycling technology developed by Worn Again Technologies (WAT), based in the UK. WAT, which recently announced plans to construct a demonstration plant near […]

Corporates

Renewcell Secures SEK 100 Million In Short-Term Financing

December 24, 2023

Renewcell AB has successfully addressed its short-term liquidity needs through strategic financial arrangements. The company secured two short-term loans totaling SEK 100 million from major shareholders, H&M Fashion AB and Girincubator AB, as well as existing lenders BNP Paribas, European Investment Bank (EIB), Nordea Bank Abp, and AB Svensk Exportkredit. Of the total

Corporates

Lea Rytz Goldman Named ‘Global Brand President’ For Tommy Hilfiger

November 12, 2023

PVH Corp. has announced Lea Rytz Goldman as the Global Brand President for Tommy Hilfiger, set to join by Spring 2024, reporting to PVH CEO Stefan Larsson. This key leadership appointment aligns with PVH’s strategic PVH+ Plan, aiming to elevate Calvin Klein and Tommy Hilfiger into premier lifestyle brands globally. Currently the Managing Director of […]

Sustainability

New Stand.earth Report Shows H&M Group’s Leadership In Emission Reductions

May 12, 2023

H&M Group achieved the highest score out of all the 43 brands included, with an overall score B-. The environmental advocacy organisation’s annual report rates fashion brands on five areas – commitments and transparency, renewable energy, low carbon materials, shipping and advocacy. “Stand.earth’s rating confirms H&M Group is on the right path. However, science