As you can see in the Html class source code, Html.fromHtml(String) does not support all HTML tags. In this very case, <ul> and <li> are not supported.
From the source code I have built a list of allowed HTML tags:
brpdivembstrongcitedfnibigsmallfontblockquotettmonospaceausupsub
So you better use WebView and its loadDataWithBaseURL method. Try something like this:
String str="<html><body>A dressy take on classic gingham in a soft, textured weave of stripes that resembles twill. Take a closer look at this one.<ul><li>Trim, tailored fit for a bespoke feel</li><li>Medium spread collar, one-button mitered barrel cuffs</li><li>Applied placket with genuine mother-of-pearl buttons</li><li>;Split back yoke, rear side pleats</li><li>Made in the U.S.A. of 100% imported cotton.</li></ul></body></html>";
webView.loadDataWithBaseURL(null, str, "text/html", "utf-8", null);