These are the stories making headlines in fashion on Monday.
has enjoyed explosive growth in the past few years for its cheap, trendy clothing. However, sales dramatically declined in 2022, for the first time since the pandemic. There may be a few reasons for this shift. For one, shoppers have less disposable income to spend in a slowing post-pandemic economy.
Furthermore, accusations around Shein's poor clothing quality, mistreatment of workers and other unethical business practices may be finally taking a toll on its revenues. According to Brandwatch, 70 percent of overall online conversations around Shein were negative between 2020 and 2023. But Shein states that it is well-positioned for 2023, and it's reportedly seeking out $3 billion to expand.
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