Pins matching tag:"Fast Fashion"

The French National Assembly unanimously adopted, in first reading, a bill to curb "ultra-fast fashion" on 14 March 2024. The bill bans advertising for the cheapest, most disposable garments and creates a bonus-malus system funding penalties on the least sustainable clothing sellers.

Shein confidentially filed IPO papers with the UK's Financial Conduct Authority in early June 2024, sources told Reuters, seeking a London Stock Exchange listing reportedly worth around £50 billion. The filing still needed sign-off from China's securities regulator before Shein could proceed.

The EU's Consumer Protection Cooperation Network, coordinated by the European Commission and led by authorities in Belgium, France, Ireland and the Netherlands, notified Shein on 26 May 2025 that practices on its platform, including fake discounts, breach EU consumer law. Shein was given one month to propose fixes.

Shein confidentially filed a draft prospectus with the Hong Kong Stock Exchange in mid-2025 after its London listing stalled without approval from Chinese regulators, having already released the communications firms it had hired to support the London plan. The switch set up a Hong Kong-only listing a year later.

France's competition and fraud authority, the DGCCRF, fined Shein €40 million on 3 July 2025 after a year-long investigation found most of its promoted discounts were not genuine price reductions. It also found Shein could not justify environmental claims made on its site.

France's government said on 5 November 2025 that it was suspending Shein's e-commerce platform in the country after the DGCCRF found the marketplace selling sex dolls "with a childlike appearance." Economy Minister Roland Lescure had warned two days earlier that Shein could be barred from the French market entirely if such listings recurred.

Shein opened a permanent corner covering more than 1,000 square metres on the sixth floor of the BHV Marais department store in Paris on 5 November 2025, its first physical store anywhere in the world. The opening drew protests and a heavy police presence.

A Paris judicial court ruled on 19 December 2025 that Shein would not have to suspend its French website for three months, rejecting the government's bid to enforce a shutdown sought after the platform's childlike-sex-doll listings. The court instead ordered Shein to add genuine age verification for adult products.

France's Senate cast the final vote on 29 June 2026 to definitively adopt the anti-fast-fashion law targeting Shein and Temu, after the National Assembly's own final vote on 24 June and a joint committee compromise reached on 17 June. The law introduces a rising eco-penalty on ultra-fast-fashion garments, from €5 today to €10 by 2030, capped at 50% of the pre-tax price.

Shein's shares fell 9% in their Hong Kong Stock Exchange trading debut on 1 September 2026, after an IPO that raised about HK$13.60 billion ($1.74 billion) at HK$48.56 a share and valued the fast-fashion retailer at roughly $26.5 billion. That is close to a quarter of the $100 billion valuation Shein commanded in a 2022 private funding round.

EU member states must have mandatory extended-producer-responsibility schemes for textiles and footwear running by 16 April 2028, 30 months after the revised Waste Framework Directive entered into force. The schemes make clothing and footwear makers fund the collection, sorting and recycling of textile waste.