New Zealanders are buying so-called fast fashion in droves
Promising to deliver the latest trends rapidly from catwalk to consumer at knock-down prices has seen a new wave of global clothing brands like Spain’s Zara, Sweden’s H & M and China’s Shein experience phenomenal growth to dominate the world clothing industry in just a few decades.
The owners of those companies, like Zara’s Armando Ortega, have amassed vast wealth to become some of the richest individuals on the planet.
Shein, started by 30-year-old Chinese engineer Chris Xu, has an estimated value of $105 billion and is planning to list on the US stock market this year in what is expected to be one of the biggest IPO’s of 2023.
But behind the spreadsheets lies another story.
Link to video and article: NZ landfill boss sees alarming rise in clothing waste (1news.co.nz)