Fast fashion’s quick decline: Asos and Boohoo have that post-Covid feeling

Once worth £5bn, Asos dropped out of the FTSE 250 this week and other brands face sharp competition in a tough market

Once the feared enemy of the high street and worth more than £5bn, the online fashion retailer Asos has seen its value slump as it faces difficulties that could herald the demise of fast fashion.

The London-based seller dropped out of the FTSE 250 with a whimper this week, valued at about £320m.

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