H&M wants people to buy less clothes; here’s what it is doing to make money

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Published: December 6, 2019 11:54:08 AM

Swedish fast-fashion brand H&M has now started to rent out clothes as the company looks to move towards a more sustainable fashion.

h&m, h&m goes green, sustainable fashion, The company is now trying out a rental model. (Representative Image: Bloomberg)

Swedish fast-fashion brand H&M has now started to rent out clothes as the company looks to move towards a more sustainable fashion. The company opened the test store in Stockholm to offer the rental services and H&M has now taken the same to China. With environmental talks doing the rounds for some time now, H&M’s move is seen as an attempt to go green amid the fashion industry garnering criticism for environmental harms. About 10% of global greenhouse gas emissions come from the fashion industry solely, and the industry consumes more energy than aviation and shipping combined, according to the United Nations data. 

With the launch of the Stockholm store, the company is offering clothes for $37 per week and has started with a collection of 50 garments. H&M is expected to evaluate the success of the initiative in the coming three months so that the same can be scaled up to other countries, the company said.

H&M also runs a sustainable label called ‘Conscious’ where the company claims to recycle polyester fibres and use organic cotton for sustainable fashion. The company also promotes its buyers to bring old clothes of any brands in exchange for in-house vouchers and H&M claims that the same helps in preventing the clothes to end up in land-fills. “All clothes collected by H&M are either reused, reworn or recycled with 0% going to landfill,” according to the company. The same initiative works on a global level and every H&M store across the planet collects old clothes. 

“We are really excited to try out rentals for the first time and inspire our customers to look at fashion in a circular way. Our Conscious Exclusive collections are made from sustainably sourced materials, so we feel they are perfect to kick off this trial with,” Maria Ostblom, Head of womenswear design, H&M, said in a statement. 

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