Fashion
After France, Italy squares up to Shein
By
AFP
Published
November 7, 2025
After its troubles in France, Shein faces more opposition in Italy, where the e-commerce giant is wooing shoppers in fashion capital Milan- but where the government and industry are mobilising.
“The textile sector is under attack,” Luca Sburlati, head of Italian fashion trade body Confindustria Moda, told AFP. “Hundreds of thousands of packages arrive in our homes every day. We must react.”
Italy is known for its high-end fashion, the home of global brands including Gucci and Prada, and the industry makes up around five percent of gross domestic product (GDP).
But cheap and cheerful clothes are as popular in Italy as the rest of Europe, including bought through Shein’s ultra-competitive platform.
Founded in China and now based in Singapore, Shein last month staged its first Italian catwalk show in Milan. The same week, the government hosted urgent talks on the impact of “ultra-fast fashion”.
Adolfo Urso, the minister for the “Made in Italy” brand, warned of “an “invasion of low-cost foreign products that harm our producers and put consumers at risk.”
The clothes industry is expected to present a new strategic plan for Italian fashion next week.
At the European Union level, the industry wants an end to the exemption from customs duties for packages worth under 150 euros ($173), following a similar charge in the US.
Critics warn of the environmental impact of clothes so cheap they can be worn once and thrown away, while Shein has also come under scrutiny for conditions at its textile factories.
This week, Italy’s government brought into law a European Union directive that seeks to improve transparency in sales, particularly on the environmental impact of products. Shein has already been sanctioned in this area in Italy and France.
The French government has said it was suspending the platform after outrage over its sale of childlike sex dolls. At the same time, nearly 8,000 people queued for the opening of Shein’s first permanent store, located in Paris’s BHV department store.
In style-conscious Milan, the platform is also hugely popular. “In Milan, you can’t go out if you’re not stylish,” Mattia Trebino told AFP at Shein’s fashion show last month.
The 24-year-old, who wore a faux-crocodile skin jacket, said he receives about four Shein packages every month. “These clothes, you can only wear them once or twice at most. But they’re really cheap,” he said.
Shein’s autumn/winter collection was inspired in part by 1980s Milan, featuring three-piece-suits and faux fur coats.
“The idea was to show that everyone can find their style at Shein- and to respond to our critics,” Luca Raveillon, the show’s French artistic director, told AFP. Gesturing to the collections, he said: “Look, it’s beautiful. It’s good quality, it fits perfectly. “We look great in it, and we can express ourselves with what we wear”- while keeping costs low, as “life is getting expensive”.
Alessia Tresoldi, a 27-year-old Italian influencer sat in the front row, shared images of the show with her one million Instagram followers. Shein “looks at what’s happening on the street”, she told AFP, and described the show as “amazing”.
The website offers a 100% polyester ‘fur’ coat from the show in 15 different colours, starting at 28 euros with free shipping. Boosted by such low prices, European consumers buy 60% more clothing than they did in 2000, and keep it for half as long, according to an October report by consultants The European House-Ambrosetti.
The study’s author, Carlo Cici, said the European fashion industry must innovate more to stand out. “Consumers are very interested in sustainability but aren’t willing to pay for it,” he wrote.
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The increase was driven primarily by higher reinvested earnings and intra-company loans, indicating continued engagement by existing investors with Bangladesh.
Reinvested earnings rose by 318.25 per cent, from $103.79 million in 2024 to $434.10 million in 2025, while intra-company loans increased by 25.68 per cent, from $621.96 million to $781.68 million.
Bangladesh’s net FDI inflows increased by 39.36 per cent last year to $1,770.42 million compared with $1,270.39 million in 2024, the Bangladesh Bank said.
The increase was driven primarily by higher reinvested earnings and intra-company loans.
Reinvested earnings rose by 318.25 per cent, from $103.79 million in 2024 to $434.10 million in 2025, while intra-company loans rose by 25.68 per cent.
Equity capital remained broadly stable, rising by 1.84 per cent, from $544.64 million to $554.64 million in 2025, a release from Bangladesh Investment Development Authority said.
Greenfield project announcements declined by 16 per cent in 2025.
Fibre2Fashion News Desk (DS)
The company’s adjusted EBITDA, excluding Employee Stock Option Plan (ESOP) expenses, rose around 14 per cent YoY to ₹468 crore, while EBITDA margin improved by 20 basis points to around 9.3 per cent. Excluding the reciprocal tariff impact of around ₹36 crore and incremental losses of around ₹13 crore in Bihar and Guatemala, adjusted EBITDA margin stood at around 10.3 per cent.
Pallab Banerjee, managing director, Pearl Global Industries, said: “FY26 marked the company’s second consecutive year of double-digit growth and improved profitability. This performance further solidifies the position of Pearl Global’s diversified operating model and disciplined execution across geographies.”
Pearl Global Industries has reported its highest-ever FY26 revenue of ₹5,025 crore (~$523.93 million), up 11.5 per cent YoY, driven by volume growth and value-added products.
PAT rose 17 per cent to ₹270 crore (~$28.15 million), while Q4 revenue hit ₹1,314 crore (~$137 million).
The company shipped 78.1 million pieces.
Its net worth stands at ₹1,438 crore (~$149.93 million).
He said that geopolitical shifts and Gulf conflicts could lead to energy cost escalation, affecting raw material and logistics costs. However, the company remains prepared to manage these headwinds, supported by its diversified manufacturing base, strong order book, and broad market presence.
The profit after tax (PAT) increased 17 per cent YoY to ₹270 crore (~$28.15 million), the company said in a press release.
On a standalone basis, FY26 revenue stood at ₹1,081 crore, while adjusted EBITDA was ₹67 crore, with EBITDA margin improving by 60 basis points to 6.2 per cent, mainly due to cost restructuring. Standalone PAT rose to ₹69 crore from ₹55 crore in the previous year.
The company’s net worth stood at ₹1,438 crore (~$149.93 million) as of March 31, 2026, compared with ₹1,146 crore a year earlier.
“In FY26, Group delivered another year of resilient performance against a complex geopolitical backdrop. Group achieved, among others, two major milestones this year: revenue crossed INR 5,000 crore mark and installed capacity surpassed 100 million pieces per annum,” said Pulkit Seth, vice-chairman and non-executive director, PGIL.
Seth added that the global apparel industry faced tariff-related disruptions during FY26, with the company’s India operations impacted by tariffs and penal duties imposed by the US. However, he added that Pearl Global leveraged its diversified, multi-country manufacturing presence to mitigate these challenges and deliver double-digit growth.
For the fourth quarter (Q4) of FY26, PGIL posted its highest-ever quarterly revenue of ₹1,314 crore (~$137 million), up 6.9 per cent YoY. Adjusted EBITDA rose 13.7 per cent to ₹135 crore, with margin at 10.3 per cent, the highest EBITDA margin recorded by the company in any quarter. PAT for the quarter stood at ₹81 crore, up 24.6 per cent YoY, PGIL said in a press release.
Standalone revenue during the quarter stood at ₹304 crore, adjusted EBITDA at ₹24 crore, and PAT at ₹14 crore.
PGIL shipped its highest-ever volumes in Q4 FY26 and FY26, at 22 million pieces and 78.1 million pieces respectively. Its annual installed capacity crossed 100 million pieces, reaching around 101 million pieces.
The ongoing capex in Bangladesh is expected to be completed by the first half of FY27 and will add around 6-7 million pieces of capacity during the year.
Fibre2Fashion News Desk (SG)
PTA prices recorded notable declines across key Asian benchmarks, tracking crude oil weakness rooted in evolving geopolitical signals. The correction was broad-based, spanning China, Southeast Asia, and South Korea, while India**;s CIF price held steady reflecting the lag in import contract structures and limited spot availability in the domestic market on the day.
The *** per cent Polyester Yarn market witnessed a slightly negative trend during the assessed period, with mild price corrections observed across both yarn grades in the Asia Free on Board (FOB) China market. Prices for **s (*** per cent polyester yarn) declined from around $*.***/kg to nearly $*.***/kg, registering a decrease of approximately *.** per cent.
Bangladesh net FDI inflows up 39.36% in 2025
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India’s Pearl Global’s FY26 revenue crosses $521 mn milestone
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