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Italy's Antitrust Opens Probe into Shein over Environmental Claims

FILE PHOTO: People walk past an advertisement for Shein, March 8, 2024 in London, Britain. REUTERS/Suzanne Plunkett/File Photo
FILE PHOTO: People walk past an advertisement for Shein, March 8, 2024 in London, Britain. REUTERS/Suzanne Plunkett/File Photo
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Italy's Antitrust Opens Probe into Shein over Environmental Claims

FILE PHOTO: People walk past an advertisement for Shein, March 8, 2024 in London, Britain. REUTERS/Suzanne Plunkett/File Photo
FILE PHOTO: People walk past an advertisement for Shein, March 8, 2024 in London, Britain. REUTERS/Suzanne Plunkett/File Photo

Italy's antitrust agency has launched an investigation into Dublin-based Infinite Styles Services CO. Limited, which manages the Italian website of Shein, over possible misleading environmental claims on the website.
The company is seen as trying "to convey an image of production and commercial sustainability of its garments through generic, vague, confusing and/or misleading environmental claims," Italy's antitrust said in a statement.
Some of the information on the clothing collection 'evoluSHEIN', declared by the company to be sustainable, could mislead consumers about the amount of green fibres used, while also failing to inform them about the fact the garments cannot be further recycled, Reuters quoted the authority as saying.
Italy's antitrust also said that Infinite Styles Services CO. Limited appeared to emphasize its commitment to the decarbonization process, while the targets indicated on Shein's website appear to be contradicted by the increase in greenhouse gas emissions indicated in Shein's sustainability reports for 2022 and 2023.
A Shein spokesperson did not immediately reply to a request for comment.
Founded in China, Shein is known for its cheap tops and dresses. Its treatment of workers and environmental record have come under increased scrutiny.

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Zara Owner Inditex Sees Good Holiday Season after Weak Third Quarter

FILE PHOTO: People shop during the opening of a Zara store after fashion giant Inditex resumed its operations in Venezuela under a franchise agreement, in Caracas, Venezuela April 25, 2024. REUTERS/Leonardo Fernandez Viloria/File Photo
FILE PHOTO: People shop during the opening of a Zara store after fashion giant Inditex resumed its operations in Venezuela under a franchise agreement, in Caracas, Venezuela April 25, 2024. REUTERS/Leonardo Fernandez Viloria/File Photo
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Zara Owner Inditex Sees Good Holiday Season after Weak Third Quarter

FILE PHOTO: People shop during the opening of a Zara store after fashion giant Inditex resumed its operations in Venezuela under a franchise agreement, in Caracas, Venezuela April 25, 2024. REUTERS/Leonardo Fernandez Viloria/File Photo
FILE PHOTO: People shop during the opening of a Zara store after fashion giant Inditex resumed its operations in Venezuela under a franchise agreement, in Caracas, Venezuela April 25, 2024. REUTERS/Leonardo Fernandez Viloria/File Photo

Zara owner Inditex said the start of the holiday season had got off to a good start after it reported weaker than expected quarterly results as rainy weather hit some key European markets.
The company behind Zara and other brands said its sales rose a slower than expected 7% to 27.4 billion euros ($28.84 billion) during the period, below the 8% expected by analysts.
Its net profit of 4.44 billion euros for the first nine months of 2024, up 8.5% from a year earlier, was below analysts' average expectation of 4.52 billion euros.
The company however reported a better start of the holiday season, with revenues rising 9% during the six weeks to Dec. 9 as the world's biggest fast-fashion retailer kept drawing in shoppers even as rivals struggled.
Revenue growth in the period, which includes the key Black Friday sales, was slower than the 14% increase reported a year ago, though.
"We had a strong start to the last quarter against a demanding comparable in the same period of 2023," Inditex's capital market director, Marcos Lopez, told Reuters.
He stressed that in constant currency sales growth was 10.5% in the first nine months of the fiscal year and the growth in constant currency during the third quarter was the faster of the year.