Lingering at a day market for labourers in Panyu, an urban village on the outskirts of Guangzhou, Ms Qiu looks dejected. She is looking for a local factory that will hire her for the day to sew clothes – cheap tops and dresses that will be churned out on to China’s e-commerce platforms, or bundled up for export to western shoppers. But she is not having much luck. “The whole industry is struggling, and now there is a high tariff on Chinese goods because of the trade war. Many foreign…
Tag: Fashion
Nike says Trump tariff war could cost it $1bn
Nike expects costs to increase by about $1bn (£728m) as a result of Donald Trump’s tariff war, as the sportswear company looks to significantly reduce its manufacturing in China. The market value of the company has plummeted by a third over the past year and it is taking action to reduce the hit, including price increases in the US and sourcing from other countries. “These tariffs represent a new and meaningful cost headwind,” said Matthew Friend, its chief financial officer. “With the new tariff rates in place today, we estimate…
Shein turns to Hong Kong for flotation as London attempt stalls, reports say
Shein is reportedly aiming to list on the Hong Kong stock exchange as the online fast-fashion retailer struggles to gain the go-ahead from Chinese regulators for a flotation in London. The company, which was founded in China where the majority of its suppliers are based but now has its headquarters in Singapore, is aiming to file a draft prospectus with Hong Kong’s stock exchange in the coming weeks, according to Reuters. It said Shein plans to go public in the Asian financial hub this year, which would scotch hopes of…
Temu and Shein warn of US price hikes from next week due to Trump tariffs
Two of China’s largest fast fashion retailers, Temu and Shein, have warned US customers that they will face price increases from next week, as Donald Trump’s hefty tariffs on Chinese imports come into force. Both companies will be hit by new import levies, which will mean taxes of up to 145% being applied to Chinese goods. They will also suffer from Trump’s cancellation of the “de minimis” exemption, under which shipments worth less than $800 (£600) could be imported duty-free. That exemption was crucial in helping the low-cost retailers make…
Fast fashion retailer Shein doubles profits as it awaits IPO approval
Shein, the online fast fashion retailer founded in China, has more than doubled its profits to more than $2bn (£1.6bn) as it awaits approval for a stock market listing in New York or London. The company, which is growing rapidly around the world by using social media to promote its goods, recorded sales of about $45bn last year, according to a report in the Financial Times based on information from sources close to the company. Shein, which has moved its headquarters to Singapore, is among the most profitable fashion companies…
Vogue China’s Margaret Zhang, youngest person appointed as an editor at magazine group, to step down
Three years after becoming the youngest person to hold an editor title at Vogue, Margaret Zhang is leaving her position as editorial director of Vogue China. The Australian-Chinese creative director announced her exit on Instagram today, writing: “As we kick off a transformative Year of the Dragon, I’m excited to announce that I have decided to wrap up with Vogue and jump into the next chapter of my career.” Zhang rose to prominence as a teenage fashion blogger in Sydney. By her early 20s, she had amassed over 1m followers…
Uniqlo sues Shein over ‘imitation’ banana-shaped ‘it’ bag
Uniqlo is suing the Chinese online retailer Shein over the sale of items it claims copy its popular banana-shaped it-bag, the “round mini”. The petition demands Shein immediately stop the sale of “the imitation products” and compensation for damages incurred as a result of their sale. It was filed last month in the Tokyo district court against the fast-growing business’s parent groups Roadget and Fashion Choice, as well as Shein Japan. Uniqlo said it had filed the complaint “because it has determined that the form of the imitation products sold…
Online retailer Temu sues rival Shein, alleging ‘mafia-style intimidation’
The Chinese-owned online marketplace Temu has sued its rival Shein, alleging that the fast fashion giant “bullied, intimidated, and even detained” suppliers in China as part of a campaign of “mafia-style intimidation”. Reigniting an acrimonious legal battle, Temu accused Shein of trying to “illegally interfere” with its business and going so far as to confiscate merchants’ cellphones during meetings to obtain access to confidential information. Suppliers doing business with Temu have been threatened with penalties by Shein, WhaleCo Inc – which operates in the US as Temu – alleged in…
‘Substantial volume’ of clothing tied to Uyghur forced labour entering EU, says study
A “substantial volume” of clothing tainted by the use of Uyghur forced labour is entering the European Union market, according to a report, as campaigners say the EU’s checks are not doing enough to weed out coercive work from large supply chains. Dozens of well-known brands including H&M and Zara are identified as being at high risk of sourcing materials, particularly cotton and PVC, made by Uyghurs compelled to participate in state-imposed labour transfer programmes, according to a report from Uyghur Rights Monitor, Sheffield Hallam University and the Uyghur Centre…
‘Facekinis’ become all the rage in China as temperatures soar
In scorching Beijing, “facekinis” are the hottest new fashion as surging temperatures shatter records. With the mercury rising above 35C (95F) and the surface temperature soaring as high as 80C in some parts of the country, residents and visitors have taken to carrying portable fans and covering themselves up to avoid getting a tan. Some hats even have fans built in. Facekinis, or full-face masks with holes for the wearer’s eyes and nose, sleeves to cover arms, as well as wide-brimmed hats and lightweight jackets made out of UV-resistant fabric,…