Annual pre-tax profits at online fashion retailer Boohoo have almost doubled to £31m - up from just under £16m last year. Its sales have jumped by 51% to almost £300m, thanks to new overseas markets. The Manchester-based firm puts its success down to "combining cutting-edge, aspirational design with an affordable price tag". Its booming sales growth has also been reflected in its share price, which has more than trebled in the past year. On its stock market flotation in 2014, it was valued at £560m.
Scrolling through Instagram, you're bound to come across an influencer wearing an outfit from one of the internet's many fast fashion retailers. Pretty Little Thing and Missguided offer loads of clothes at really low prices - and they update much quicker than the high street. But how are these online retailers impacting the environment? And what role does social media play in the "wear it once" trend? MPs released a report last week outlining their worries about fast fashion's effect on the environment.
The Advertising Standards Authority (ASA) has banned three Nasty Gal television ads for using a model that appeared "unhealthily underweight". The ASA received 22 complaints from viewers, who challenged whether the ads were "socially irresponsible". The Manchester-based online fashion retailer said the model was a UK size 8, with a body mass index (BMI) of 18.8, within the healthy weight range. The ASA said the model's poses drew attention to her "prominent" ribcage. "While the female model in the ads generally appeared to be in proportion, there were specific scenes which, because of her poses, drew attention to her slimness," said the ASA in its ruling.