Boohoo.com
Added Jul 10, 2020
Boohoo.com is a UK-based fast fashion website for teens and young adults. Founded in 2006, Boohoo has grown in popularity offering buyers over 36,000 products and generating £856.9m in sales on 2019.
Company Behavior Summary
- On July 5th, 2020, The Sunday Times revealed that workers at Boohoo were being paid as little as £3.50 an hour ($4.40), an amount significantly less than the £8.20 ($10.30) U.K. national minimum wage. This information came after an undercover reporter spent two days working in the factory.
- Since the news of this “modern day slavery” came to light, the share price of Boohoo has fallen by nearly 50% from $5.24 in mid June to $2.64 on July 8th, 2020.
Sources
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