Nick Beighton, former CEO of Asos, shared insights on Shein’s business model during the Source Fashion show in London.
- Beighton described Shein’s approach as both ‘genius’ and a cause for concern due to their production standards and transparency issues.
- The Source Fashion event highlighted sustainable sourcing, attracting over 300 exhibitors and thousands of attendees from top brands.
- Joanna Mourant from Next discussed the retailer’s sustainability progress, aiming for 100% responsible cotton sourcing by 2025.
- The show announced plans to expand in 2025 to accommodate growing interest in sustainable fashion innovations.
Nick Beighton, renowned for his tenure as CEO of Asos, addressed the growing influence of Shein at the Source Fashion trade show in London. He labelled Shein’s groundbreaking business strategy as both ingenious and worrying, citing significant concerns over production practices and a lack of transparency. “Some of the standards of how [Shein] are producing garments, the lack of transparency, their renowned opaqueness, makes me extremely nervous,” Beighton remarked.
Held at Kensington Olympia from 14-16 July, the Source Fashion show gathers over 300 exhibitors annually, underscoring advancements in sustainable materials and responsible sourcing practices. Beighton also commented on Shein’s potential market activities, suggesting that the London Stock Exchange should be home to premier brands and high standards.
With its origins in China and its headquarters now in Singapore, Shein’s attempt to list in New York was impeded by opposition from US legislators. Beighton advocates for proximity sourcing, stating, “I think fashion can be done fast without the connotations that we attribute to fast fashion. Nothing can be faster than UK sourcing done well.”
In an insightful panel, Joanna Mourant, head of product legislation and sustainability at Next, outlined the company’s pursuit of sustainability. Next has notably increased its sustainable cotton sourcing to 81% as of April 2024, up from 67% the previous year, with a target of reaching full sustainability by 2025.
Suzanne Ellingham, the organiser of Source Fashion, highlighted the exponential growth of the event which, having hosted about 80 manufacturers initially in 2023, now accommodates over 300 exhibitors. “We’ve achieved that in two years,” she noted, announcing plans to expand the venue for the next event in February 2025 to double its capacity.
The Source Fashion show continues to be a pivotal event for the fashion supply chain, driving forward the conversation on sustainable innovation.
