Sellpy (majority stake)
2019
Why
H&M Group, which had invested in Swedish secondhand-resale platform Sellpy since 2015 through its CO:LAB investment arm, increased its stake to roughly 70% in 2019, becoming Sellpy's majority owner.
Impact
The investment gave H&M a stake in the growing secondhand and resale apparel market, an area of consumer demand at least partly in tension with H&M's core fast-fashion, high-volume business model.
Outcome
Sellpy has continued operating as a distinct platform, giving H&M Group exposure to circular-fashion and resale trends without requiring the core H&M brand to change its primary retail model. H&M Group has continued to make smaller strategic investments in resale, rental, and sustainability-focused retail technology startups since the Sellpy deal, treating minority and majority stakes in adjacent business models as a lower-risk way to participate in market shifts without altering the core H&M banner's fast-fashion positioning.