By Helen Reid and James Davey

LONDON (Reuters) – Fast fashion retailer Shein said it would invest 250 million euros ($271 million) over five years in the UK and Europe as the company battles criticism of its model based around flying cheap clothes and accessories from factories in China direct to shoppers worldwide.

Shein, which is preparing for a possible London listing, already sources some clothes from factories in Turkey, although the vast majority of its products are made by around 5,400 suppliers mainly in Guangzhou, China.

Textile associations and politicians in Europe have accused…