Tag: shein
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Shein quarterly profit falls 67% as costs jump, Europe sales slump
Sept 28 : Fast-fashion platform Shein reported plunging profit and sliding European sales on Monday in its first results as a public company, feeding investor worries over margin pressure and slowing growth. Adjusted net profit was $228 million for the second quarter, down 67 per cent from a year ago, and its
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Shein reports sharp drop in Europe sales after price hikes
Sept 28 : Fast-fashion platform Shein reported a sharp drop in sales in Europe in the second quarter after it hiked prices and cut online advertising in anticipation of the European Union imposing fees on low-value e-commerce parcels from July 1.Since its September 1 debut in Hong Kong, Shein’s shares have
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How can African retailers compete with Shein and Temu?
Shein and Temu are expanding across Africa with low prices and vast product ranges. Businesses and unions warn the growth could come at a cost for local jobs.
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China urges France to ‘halt’ fast-fashion law, warns of countermeasures
France’s new law imposes fees on certain ultra-fast fashion items that will eventually reach almost 20 euros per garment.
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Textile federation seeks 10 euro fee on EU fast-fashion imports
PARIS: A federation of European textile associations called on Tuesday (Sep 2) for an import fee of 10 euros (US$11.60) on fashion imports, the latest effort to stem the flood of ultra-cheap competition mainly from China.The plea by Euratex came after the EU imposed in July a three-euro duty on cheap parcels
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Shein shares slip on second day of Hong Kong trading
HONG KONG, Sept 2 : Shares of Shein are set to open down 0.45 per cent in Hong Kong on Wednesday at HK$48.28, a day after their lacklustre debut session following a long-awaited initial public offering.The online fast-fashion retailer’s stock tanked by as much as 10 per cent on Tuesday but recovered to close
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France targets Shein and Temu with fast fashion fees
The levy on “ultra-fast fashion” items could reach almost €20 per garment by 2030.
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Shein shares slide in Hong Kong debut on worries about trade and regulatory risks
On its debut, Shein is valued well below its 2022 peak of nearly US$100 billion.
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Fast-fashion giant Shein set to open flat in Hong Kong market debut
HONG KONG, Sept 1 : Shares in fast fashion giant Shein were set open flat in their Hong Kong market debut on Tuesday, hurt by numerous setbacks that have long delayed its listing and undermined the foundations of its business.Known globally for selling $5 tops and $10 dresses, Shein has been humbled by tariff
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Shein shares slide 10% in long-awaited Hong Kong trading debut
HONG KONG, Sept 1 : Online fashion retailer Shein’s shares tumbled about 10 per cent in early Hong Kong trading on Tuesday as the company made its long awaited debut, capping a years-long effort to go public.The stock began trading at HK$48.56 each, in line with the final price set in the initial public offer
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