Articles by AFP
Shein: heavily criticised, yet millions of customers remain
Paris - Having become the symbol of ultra-fast fashion in recent years, Shein is preparing for its stock market debut in Hong Kong in September. The company has found itself targeted by multiple European and French initiatives aimed at regulating its operations. Investigations, sanctions and controversies have not, however, prevented the Asian...
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Online clothing retailer Boohoo fined 2.33 million euros
Paris - British online clothing chain Boohoo has been fined 2.33 million euros. The fine follows an investigation that revealed “deceptive commercial practices”, the French fraud authority announced on Thursday. The fine was for “deceptive commercial practices and non-compliance on product labelling”. It was proposed to the company with the...
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French anti-ultra-fast-fashion law: China threatens retaliation
Beijing - China warned on Wednesday that France could face possible retaliatory measures after adopting a law aimed at countering the rise of disposable fashion, or "ultra-fast fashion". Beijing has denounced the regulation as “discriminatory” and contrary to trade principles. Adopted by the French Parliament at the end of last month, the text...
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Switzerland: watch exports see slight decline in first half
Geneva - Swiss watch exports fell by 0.7 percent in the first half to 12.8 billion Swiss francs (15.76 billion dollars), amid a downturn in the US and Chinese markets, according to statistics published on Tuesday by the Swiss watch federation. In June, Swiss watch exports grew by 11.2 percent to nearly 2.4 billion francs, driven by the US (+12.7...
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Swatch's first-half net profit misses expectations despite sales growth
Swatch Group reported a net profit for the first half that was below expectations on Tuesday. The company hopes for “a significant improvement in profitability in the second half” thanks to an acceleration in sales observed since May. For the period from January to June, the Swiss watchmaker reported a net profit of 16 million Swiss francs. This...
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EU fines AliExpress 550 million euros for selling prohibited products
Brussels - The EU fined the Chinese e-commerce platform AliExpress, a subsidiary of the giant Alibaba, 550 million euros (628.7 million dollars) today. The fine was for allowing the sale of illegal products to European consumers, including dangerous toys and counterfeit clothing. AliExpress was sanctioned for failing to meet its obligations...
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Italy investigates Chanel, Bulgari and other luxury brands for exploitation of Chinese workers
Milan - Italian police searched the headquarters of eleven luxury brands on Thursday, including Chanel, Bulgari and Etro, suspected of using subcontractors who exploited Chinese workers in Italy. The other brands under investigation are Brunello Cucinelli, Moncler, Jacob Cohen Company, Owenscorp Italia, Goyard Italia, F.Vl, Stefano Ricci and...
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China approves Shein's Hong Kong listing application
Fashion titan Shein has won approval from China's market watchdog for its initial public offering application in Hong Kong, the China Securities Regulatory Commission said in a statement on Friday. Shein's plan to sell up to 341.6 million shares and list on the Hong Kong stock exchange is approved, the CSRC said. Plans to list the company in New...
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Czech Republic: 70,000 pairs of shoes destroyed in a fire
A fire in a warehouse in Zlin, Czech Republic, destroyed 70,000 pairs of shoes on Thursday. The warehouse is located on the site of the former Bata shoe manufacturing empire. The company Vasky, which manufactured the shoes, reported its losses at seven million dollars. No one was injured, firefighters confirmed. They added that the fire was...
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French court bans Shein from selling products imitating Lacoste crocodile in EU
Paris - A French court on Thursday provisionally banned the Asian e-commerce giant from selling items on its platform that feature the famous Lacoste crocodile logo. Pending a final ruling, the Paris judicial court “has taken provisional measures throughout the European Union”. The aim is to “prevent infringement of Lacoste’s renowned trademarks...
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