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Deal Dive: It’s time for VCs to break up with fast fashion
VCs have long supported fast-fashion companies but the controversies and lawsuits they draw makes them riskier investments.
Fast fashion is an industry ensnared in labor issues and copyright problems, and it has an immense environmental impact due to its wastewater and carbon emissions. On Wednesday, my colleague Manish Singh wrote a scoop about a potential Accel investment into Newme, a fast-fashion startup based in India. Fast-fashion companies gained rapid popularity and large followings because of their ability to bring clothes from the runway to your local department store in record time.
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