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Markets Now – Monday 6th July 2020

Happy Monday. Scoreboards first, then let’s get on with sweatshops. Boohoo’s down 12 per cent or thereabouts after the Sunday Times did some undercover reporting at a factory operating behind a sign that said Jaswal Fashions, which stitched clothes with a Nasty Gal label and packed them into boxes that said Morefray Limited. The rap sheet has to be written in this strained way because of the nest of contractors and subcontractors through which Boohoo and its peers operate. Provenance is murky and blame can always be shifted elsewhere. Boohoo said this morning that it didn’t and still doesn’t know the identity of the company making its clothes. That’s it. That’s its defence. Really. Look: Our early investigations have revealed that Jaswal Fashions is not a declared supplier and is also

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Happy Monday. Scoreboards first, then let’s get on with sweatshops.

FT Alphaville
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