Could a crackdown on ultra-fast fashion damage the UK economy?

Shein generated an estimated £1.5bn in
 UK revenue in 2023. ·
Pablo Cuadra via Getty Images

The UK has become one of the biggest markets for ultra-fast fashion, including for China-founded Shein, which generated an estimated £1.5bn ($2bn) in UK revenue in 2023. With Shein reportedly exploring a London IPO, any potential shift in the UK’s regulatory environment could materially affect its valuation, investor confidence, and growth trajectory.

At the same time, other platforms such as Temu and Cider are rapidly expanding in the UK, drawn by relatively light-touch regulation and a digitally-savvy consumer base.

With increasing focus on the industry's environmental impact, campaigners are calling for better regulation and more scrutiny of fashion retailers' conduct. If regulators do clamp down, striking the right balance between protecting the environment while minimising any economic fallout will be a tough challenge.

By Rabina Khan

Full story at Yahoo News