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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Hennes & Mauritz AB    HM B   SE0000106270

HENNES & MAURITZ AB

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Hennes & Mauritz : H&M Group and Renewcell expand partnership

11/19/2020 | 02:51am EST
News article
H&M Group and Renewcell expand partnership in industry first

H&M Group is excited to announce that it has reached a multi-year agreement with the innovative Swedish textile recycling company to supply it with thousands of tonnes of its pioneering virgin quality Circulose® fibers made from unusable textile waste.

19 Nov, 2020

This landmark agreement takes H&M Group an important step closer in achieving its goal of becoming fully circular whilst helping drive the sustainability agenda across the entire industry. One of the biggest barriers to replacing virgin fibers and using more sustainable materials is the availability of these materials at scale. Agreements like this represent a profound shift in making this a reality. Over a five-year period Renewcell will provide the group with enough Circulose® to produce millions of garments across its brands.

'In continuing our long-term partnership with Renewcell, this agreement is an important milestone not only for H&M Group, but also for the wider industry in terms of having a circular product like theirs available at scale. To become fully circular and achieve our 2030 goal that all our materials should be either recycled or sourced in a more sustainable way, we need to ensure materials such as Circulose® are a core part our material portfolio going forward.'

Pascal Brun, Head of Sustainability H&M

H&M Group have worked closely alongside Renewcell since their inception in 2012, and invested in them through its investment arm CO:LAB in 2017. H&M was also the first retailer to use Circulose® when it debuted in its Conscious Exclusive collection in March 2020. This new agreement builds on this and marks the next stage in this collaborative journey.

'We are proud to have taken the next step in our long relationship with H&M Group, a global industry leader that once again puts its words into action to change fashion. I believe that this kind of partnership will become a model for how fashion brands integrate innovations to reduce their negative impact on climate and the environment.'

Patrik Lundström, CEO Renewcell

For more information, please contact groupmediarelations@hm.com

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Disclaimer

H&M - Hennes & Mauritz AB published this content on 19 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2020 07:50:03 UTC


© Publicnow 2020
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Sales 2020 187 B 22 563 M 22 563 M
Net income 2020 1 050 M 127 M 127 M
Net Debt 2020 70 670 M 8 526 M 8 526 M
P/E ratio 2020 281x
Yield 2020 1,25%
Capitalization 302 B 36 464 M 36 470 M
EV / Sales 2020 1,99x
EV / Sales 2021 1,66x
Nbr of Employees 179 000
Free-Float 43,5%
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Number of Analysts 25
Average target price 178,69 SEK
Last Close Price 182,65 SEK
Spread / Highest target 15,0%
Spread / Average Target -2,17%
Spread / Lowest Target -50,7%
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Helena Helmersson Chief Executive & Operating Officer
Karl-Johan Erling Persson Chairman
Adam Karlsson Chief Financial Officer
Joel Ankarberg Chief Technology Officer
Anders Gunnar Dahlvig Independent Director
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