Circulose, formerly Renewcell, welcomes new leadership.
- Former H&M CEO Helena Helmersson joins as chairman.
- McKinsey’s Jonatan Janmark named Circulose’s new CEO.
- Altor’s acquisition wants to revitalize Circulose for global growth.
- Circulose focuses on sustainable textile recycling and innovation.
Circulose, previously known as Renewcell, is a pioneering force in textile recycling, and it is moving forward with a fresh leadership team. Former H&M CEO Helena Helmersson, a stalwart in the fashion industry since 1997, will take the helm as chairman. At her side is Jonatan Janmark, a seasoned partner from McKinsey & Company, who will assume the role of CEO. Their appointments mark a pivotal moment as they prepare to lead Circulose into its next chapter, starting on December 1.
The leadership change comes in the wake of Altor’s strategic acquisition of the defunct Renewcell. The company, lauded for its sustainable textile innovation at the Drapers Sustainable Fashion Awards in 2023, faced financial difficulties leading to its bankruptcy earlier this year. Altor, recognizing the potential for transformation, acquired Renewcell’s remaining assets in June, renaming it Circulose to reflect its core product— a textile pulp made from end-of-life garments and natural fiber waste.
Altor is committed to a vision of global expansion for Circulose, facilitating investments to enhance its capabilities and reach. This backing aims to steer the company towards a more competitive and sustainable future. In the words of Helmersson, “I am thrilled to be joining Circulose and support the company in my role as chair. We have an ambitious agenda ahead of us and a talented team ready to make it happen.”
Janmark brings extensive experience in the consumer and textile industries, making his leadership poised to navigate the complexities of bringing Circulose to a broader audience. His background in strategic consulting will be instrumental in crafting a roadmap for the company’s growth, ensuring that the firm’s innovative recycling solutions gain traction in the global marketplace.
This significant leadership transition aligns with Circulose’s mission of sustainable innovation. With a renewed focus on recycling end-of-life textiles, the company is poised to influence both the fashion industry and environmental sustainability efforts globally. Helmersson noted, “Circulose feels very much like a natural fit, for me and for the future, and I look forward to contributing with my many years of experience in the fashion industry.”
Circulose’s new leadership aims to propel the company toward sustainable success on a global scale.
