Shein’s UK sales have surpassed Boohoo’s, indicating a shift in the fast fashion market. In 2023, Shein reported revenues over £1.5bn, as Boohoo’s sales fell to £1.4bn. Shein’s annual profits rose to £18.7m, while Boohoo faced significant pre-tax losses. Industry experts suggest Shein could soon challenge another major competitor, Asos. Controversies around Shein’s practices continue,...
Tag: Fast fashion
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Boohoo, H&M Lock Horns With UK Legislators Over ‘Fast Fashion’
Boohoo Group and H&M Group clinched the win for most unexpected double act this week when they were the only clothing purveyors to show up at a House of Commons evidence session about the sustainability of the U.K. fashion industry. Conservative Member of Parliament Philip Dunne, head of the cross-party Environmental Audit Committee, opened up...