Do you consider Everlane [1] to be ethical? They're based on the premise that the workers — in countries like Vietnam and Sri Lanka [2] — should be fairly compensated, and they're completely transparent about how much of the retail price goes to the factories. And yet their clothes, which in my experience are of high quality, are not expensive; they're certainly not 10 times the cost of similar clothing from, say, Uniqlo, Zara or H&M.

[1] https://everlane.com/

[2] https://www.everlane.com/factories/