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Once the feared enemy of the high street and worth more than £5 billion ($6.8 million), 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 £320 million.
Four years ago Asos, and its fellow online fast fashion purveyor Boohoo, were booming as the high street suffered from Covid pandemic lockdowns, and largely housebound…
