Looper Textile Co., the standalone joint venture is owned 50% by H&M and 50% by Remondis. The firm will collect and sort unwanted clothes and textiles into different streams in order for them to be reused or recycled.
Today, less than 40% of used clothes are collected in the EU, according to the two companies. Consequently, 60% of post-consumer textiles go directly to waste. By building infrastructure and solutions for collection and sorting, they hope to move one step closer toward enabling circularity, thereby minimizing the CO²-impact and improving resource efficiency,
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Emily Bolon, CEO of Looper Textile Co, said: “H&M Group was the first fashion company to launch a garment collecting initiative worldwide in 2013 and has, through its investment arm H&M CO:LAB, invested in companies that develop technologies to enable textile recycling. 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.”
Looper’s aim is to become a preferred feedstock provider to companies and innovators engaged in textile resale and recycling. The joint venture is starting its operations in Europe and aims to extend the highest use of approximately 40m garments during 2023. The company plans to innovate within textile collection and sorting, for example by testing new collection schemes and implementing automated sorting technologies such as near-infrared sorting, as well as by developing an assortment of partners in the areas of reuse and recycling.
See Also:
Last month, H&M partnered with online game platform, Roblox to create an immersive game in the metaverse that encourages virtual garment experimentation while promoting circularity.
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