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Earth News

Is fast fashion dying? What Shein’s lacklustre IPO reveals

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Markets

Shein shares fall on Hong Kong debut as parcel duties and Iran costs bite

Shein has listed in Hong Kong after failed attempts in New York and London, as US tariffs and rising shipping costs squeeze the fast-fashion giant's profits.

Business

Shein IPO aims for $27bn valuation — and Europe is key to its future

Shein is seeking a valuation of up to approximately $27 billion (€23.1bn) in its September flotation on the Hong Kong Stock Exchange, far below its reported peak of $100 billion in 2022. Europe is a key market, but new customs rules and regulatory scrutiny threaten its low-cost model.

EU.XL

Fast fashion: 69% of our clothes contain toxic chemicals

The European Union is implementing a new tax on imports, to limit purchases from fast-fashion e-platforms like SHEIN, Temu, and similar. Their bargain price tags hide a toxic reality, as testing reveals these ultra-cheap garments carry a hidden cost to human health.

EU.XL

EU slaps €3 duty fee on SHEIN, Temu and AliExpress imports

A new €3 customs duty takes effect across the EU on 1 July, ending years of tax-free shopping from platforms like SHEIN, Temu and AliExpress and signalling the end for ultra-cheap online hauls. Watch the video.

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EU.XL

Can the EU stop SHEIN and Temu from dominating the e-market?

The EU is swamped with cheap parcels imported from Chinese e-commerce giants. Products from SHEIN, Temu and the like have been benefitting from a tax loophole that will soon be axed by the EU.

Europe News

EU seizes 4,200 tonnes of illegal textile waste from Italy in Turkey

Inspectors discovered an additional 2,100 tonnes of textile waste stored in a warehouse linked to a Turkish recycling facility that was noncompliant with environmental laws. Meanwhile, France is urging EU countries to get tough on ultra-fast fashion.

Business

Zara owner Inditex defies Iran war concerns with strong sales

Inditex delivered first-quarter results that exceeded analyst forecasts, with net sales climbing 5.8% to €8.7 billion and the company signalling an even stronger start to the second quarter. The firm's stock has surged over 5%.

Tech News

EU launches formal probe into fast fashion company Shein

If breaches are confirmed, Shein could face hefty fines, as the EU steps up enforcement of its digital rulebook against large tech companies.

Europe News

Influencer marketing in fast-fashion and food sectors under scrutiny

The European Consumer Organisation is raising the alarm about hidden advertising practices by influencers on social media for fast-fashion and unhealthy food.

Business

Shein faces backlash as it prepares to open physical stores in France

Galeries Lafayette and other iconic French department stores could now house Shein's physical shops, with the Chinese fast-fashion brand expecting to create 200 jobs.

Tech News

Shein removes shirt listing after using image of Luigi Mangione

Fast-fashion giant Shein has found itself in trouble after using the likeness of Luigi Mangione, the American man accused of killing the UnitedHealthcare CEO, to sell cheap shirts.

Lifestyle

UK watchdog bans Zara ads for 'unhealthily thin' models

Two advertisements from fashion giant Zara have been deemed “socially irresponsible” and banned for featuring models that appeared “unhealthily thin”.

Scenes

Watch: The Italian fashion entrepreneur blending sustainability with tradition

In partnership with Media City

Niccolò Cipriani is committed to creating a circular economy with his brand, Rifò, that supports people and the environment.

Business

Italy hands fast fashion retailer Shein €1 million greenwashing fine

The decision comes after France fined the retailer €40m in July over fake discounts and misleading environmental claims.

Brussels, My Love?

The battle for the EU budget - who wins, who loses?

In this edition of our weekly talk show, participants discuss the launch of the EU budget deliberations, attempts to raise taxes on tobacco and alcohol and the major escalation in Europe's scrutiny of the fast fashion business model.

Markets

Shein files for Hong Kong IPO to speed up London listing, FT reports

The e-commerce platform filed for a London IPO around a year and a half ago, but has been unable to secure regulatory approval, partly linked to its exposure to the Xinjiang region.