Post by H&M Group

Industry appeal to policymakers: Fix the economics for resale.   H&M Group are proud to be among 69 fashion industry organisations endorsing a business statement, convened by the Ellen MacArthur Foundation, calling for policy changes to incentivise scaling of circular business models, such as resale and repair.   The industry recognise that policy change for resale and repair can drive economic resilience, create job opportunities and keep products in circulation for a longer time. Yet today, these models are held back by a system that makes it easier (and more profitable) to produce new items than to keep existing ones in use.    “If governments are serious about circularity, they need to act by removing double taxation, reducing labour costs, and removing other barriers that hold resale back. Fixing the economics of resale is one of the fastest and most concrete ways to scale circularity in fashion”, says Leyla Ertur, Chief Sustainability Officer at H&M Group.   To scale these models, we need targeted policy action.    Read the full business statement: https://lnkd.in/et4cVnky   #HM #EllenMacArthurFoundation #TheFashionReModel