Connect with us

Hi, what are you looking for?

DOGE0.070.84%SOL19.370.72%USDC1.000.01%BNB287.900.44%AVAX15.990.06%XLM0.080.37%
USDT1.000%XRP0.392.6%BCH121.000.75%DOT5.710.16%ADA0.320.37%LTC85.290.38%
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Business

Business

France’s Actions Against Shein and Temu: Impact on the Global Ultra-Fast Fashion Industry

France's Actions Against Shein and Temu: Impact on the Global
(Credit: Getty Images) (Credit: Getty Images)
France's Actions Against Shein and Temu: Impact on the Global
(Credit: Getty Images) (Credit: Getty Images)

Listen to the article now

France’s Actions Against Shein and Temu: Impact on the Global Ultra-Fast Fashion Industry

France’s lower house of parliament recently approved a bill aimed at addressing the environmental impact and societal issues associated with fast fashion. The bill targets online retail giants like Shein and Temu, imposing measures such as advertising bans and penalties for these companies.

Fast fashion, characterized by its rapid production of low-quality apparel following current trends, has been criticized for its negative impact on both the environment and workers in the textile industry. The new French bill seeks to address these concerns by mandating transparency in environmental impact labeling and imposing penalties on fast fashion retailers.

Advocates argue that the artificially low prices of fast fashion are maintained through inadequate compensation for workers and environmental degradation. They compare the addictive nature of fast fashion consumption to that of tobacco, emphasizing the need for regulation to curb overconsumption and its associated negative effects.

While companies like Shein and Temu oppose the bill, claiming it will worsen the purchasing power of consumers, proponents argue that regulation is necessary to hold fast fashion companies accountable for their environmental and social impact. They hope that initiatives like the French bill will serve as models for other regulatory bodies to address similar issues in the fashion industry.

However, some critics raise concerns about the distribution of funds collected from penalties imposed on fast fashion companies. They emphasize the need for transparency and accountability in ensuring that these funds are directed towards addressing the environmental impact on frontline communities, particularly those in the global south.

Despite opposition from companies like Temu and Shein, the French bill represents a step towards addressing the negative externalities associated with fast fashion. It highlights the growing recognition of the need for regulatory measures to promote sustainability and ethical practices in the fashion industry.


Comment Template

You May Also Like

Economy

As the French automaker prepares to unveil a new compact SUV, Journalists speaks with Citroën CEO Thierry Koskas. Koskas has been leading the Stellantis-owned...

Business

Gucci Forecasts 20% Decrease in Sales Amidst Asia Economic Slowdown Kering, the Paris-based owner of Gucci, has issued a warning indicating an expected 20%...

Politics

The defense minister of France stated in remarks released on Monday that discussions are underway to create a military medical center in the neighboring...

Politics

France uses teargas on banned pro-Palestinian rally as Macron calls for calm. President Emmanuel Macron encouraged the French to remain together and avoid bringing...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok