The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
MANCHESTER, United Kingdom — Boohoo Group Plc said it suspended business with some suppliers following reports that clothing sold by the online retailer may be made in factories paying less than minimum wage.
Shares of the clothier fell as much as 17 percent in afternoon trading in London after the Guardian cited auditors' findings that more than a dozen UK suppliers may be paying substandard wages. The newspaper said at least 18 businesses, eight of which denied some or all of the claims, couldn't prove they were compliant.
The company’s own investigations “have highlighted similar issues” at an unspecified number of factories, a Boohoo spokesman said in a statement, and the company has suspended business with those firms.
Boohoo, which owns the Nasty Gal label, said it's sharing its findings with organisations such as Slave Free Alliance to ensure workers are treated fairly and paid appropriately. In July, an investigation by the Sunday Times found workers supplying clothes to Boohoo were being paid an hourly wage of as little as £3.50 ($4.70).
By Thomas Buckley
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.