H&M invests $13M in AI-driven menswear startup Thread

Large retailers have found that the quickest way to get access to new products and technologies is to invest – and in some cases to accelerate or incubate – in the startups that are creating them. Some of the startups are focused on technology, and others on product. This is H&M's second such investment this month, following the $20 million it paid for a 1% stake in fintech startup Klarna last week. Target has been prominent among other retailers cultivating startups, first with its Target Techstars accelerator, which recently ran its third annual program. It has expanded into wellness and beauty mini accelerators, and just announced a new accelerator for Gen Z entrepreneurs and creators.