Retail expert Mary Portas and former Green Party leader Caroline Lucas have backed a new campaign calling on the government to refuse Shein’s potential application to be listed on the London Stock Exchange.
The new campaign, Say No to Shein, has launched a new petition calling on the government to block the highly-anticipated IPO and conduct a “thorough investigation” into its operations.
This includes a look at Shein’s labour practices, environmental impact and tax arrangements.
Portas said: “Why would we as a country consider embracing a company like Shein on to the London Stock Exchange? This is a company with allegations of unethical business practices, modern slavery and violating labour laws. Surely we are better than this?”
Lucas added: “There should be no place on the London Stock Exchange for companies that exacerbate climate breakdown, violate workers rights and avoid taxes.
“This is a test of the new government’s commitment to upholding higher social and environmental standards.
”They should block Shein’s listing until binding safeguards covering its entire supply chain are applied and any abuses fully remedied”.
As of July 17, Say No to Shein’s petition has had more than 33,000 signatures.
A spokesperson for Global Justice Now, which also supports the campaign, said: “Shein’s prices may be low but ultimately it’s people in the global south who are picking up the bill.
“Like many fast-fashion brands, Shein’s massively destructive business model is made possible through the extreme exploitation of global south workers, environmental degradation and tax avoidance. But the scale of Shein’s production makes its impacts super-sized, lowering the bar even further.
“The next government must take a firm stand against Shein’s rampant profiteering, which leaves people and our planet poorer.”
The campaign follows in the footsteps of many other bodies and individuals that have raised concerns about the impact of Shein getting the green light to list in London.
New business secretary Jonathan Reynolds recently said the tax “loophole” being exploited by Shein is a cause for concern.
British Fashion Council boss Caroline Rush expressed her reservations due to now being a time when “global fashion leaders are rightly focused on making our sector more socially, environmentally and economically sustainable”.
Rush added that if the government does give Shein the go-ahead, it would be “of significant concern” to British fashion designers and retailers.
UK-based human rights group Stop Uyghur Genocide called on the Financial Conduct Authority to refuse an application over concerns of forced labour in Shein’s cotton supply chain.
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