Shein unveils UK investment plans and launches ‘circularity fund’
Shein has pledged to invest £211m (€250m) over the next five years in the UK and Europe, according to Reuters, as it launches a “circularity fund”.
The fast fashion giant said it had designated £42m (€50m) for “potential investments in R&D or pilot Shein production facilities in Europe or the UK,” and initiatives to help retailers and designers from the region reach more consumers via its marketplace.
It comes as the retailer revealed it will introduce a £169m (€200m) “circularity fund” which it claims will address fashion waste, as the brand continues to wait for its London IPO approval.
Speaking to the Financial Times, executive chairman Donald Tang said it planned to inject the money into start-ups and more established UK and European companies “as soon as possible”.
Investment targets for the fast fashion retailer, which faces concerns over its sustainability practices, could include early-stage businesses working on recycled materials or older businesses using new or emerging fabrics in a bid to be more environmentally friendly.
When asked whether the circularity fund was in response to concerns over Shein’s supply chain, the executive said it was a “continuation of the efforts and journey that we have been on for quite some time”.
Tang insisted fashion waste was not a problem that could be fixed “individually” and that the issue was not “just about the money”.
Calling on others, including investors, retailers and policymakers, to join its circularity initiative, he said: “It’s too big, it needs collaborative efforts”.
Retail Gazette
Related news
Lidl to launch ‘Live Well’ logo linking health and sustainability
Lidl GB is set to become the first UK discounter…
Read more >Shein’s UK subsidiary had a strong year, but serious risks cloud the outlook
Shein’s UK subsidiary has posted strong growth in 2024 as…
Read more >Related news
OKSZ has spoken out regarding the extension of the margin freeze
Viktor Orbán announced the extension of the margin freeze. The…
Read more >KSH: investment performance decreased by 8.0 percent compared to a year earlier
The volume of investments in the second quarter of 2025,…
Read more >MTÜ: almost 800 thousand people participated in the St. Stephen’s Day celebrations in Budapest
According to mobile data, more than 798,000 people with mobile…
Read more >