Fast Fashion Retailers Asos and Boohoo Forced to Clarify Green Claims [BNN Bloomberg (Canada)]
ASOS PLC UNSP/ADR (ASOMY)
NASDAQ:AMEX Investor Relations:
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Source: BNN Bloomberg
Asos Plc, Boohoo Group Plc and Asda's clothing brand George have signed formal agreements with the Competition and Markets Authority to use only “accurate and clear” green claims, according to a statement Wednesday. The requirement includes displaying information clearly to shoppers, avoiding using vague terms to describe organic or recycled fabrics and using misleading imagery, such as green leaves to suggest a product is more environmentally friendly than it is. “The commitments set a benchmark for how fashion retailers should be marketing their products, and we expect the sector as a whole -- from high street to designer brands -- to take note and review their own practices,” said Sarah Cardell, chief executive officer at the CMA. Fast fashion brands, which are able to respond to quick turnovers in trends at low prices, have come under pressure over their high carbon footprints. ©2024 Bloomberg L.P.
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