Shein, the fast fashion retailer, announced a €250 million investment over five years in the UK and Europe, aiming to mitigate criticism of its business model that relies on cheap, rapidly shipped clothing from China. The investment includes €50 million for potential R&D or pilot production facilities in Europe and the UK, along with initiatives to support local brands and designers.
Shein, which recorded sales of $45 billion in 2023, is also launching a €200 million "circularity fund" to support textile recycling technologies. The company is preparing for a possible London listing and aims to expand its sourcing beyond China, particularly from Turkey.
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