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UK Urged to Block Shein Listing Over Labour, Tax Claims – ST

Say No to Shein campaign wants the British government to block Shein’s application to list on the London Stock Exchange


The Shein logo and web shop are seen in this Reuters image from May 2024.

 

Campaigners are pushing the UK’s new Labour Government to pull the plug on Singapore-headquartered fast-fashion retailer Shein’s plans to list its shares in London, The Straits Times reported.

The protesters accuse Shein, which confidentially filed papers with Britain’s markets regulator early in June, of exploiting workers, damaging the environment and avoiding tax, the story went on.

The Say No to Shein campaign, which is backed by British retail consultant and television personality Mary Portas, wants the UK government to block Shein’s application to list on the London Stock Exchange until it has completed a thorough investigation into its labour practices, environmental impact and tax arrangements.

However, the Chinese-founded firm said: “Shein refutes these inaccurate allegations, which are based on outdated sources and false claims.”

Read the full story: The Straits Times

 

  • By Sean O’Meara

 

Read more:

EU Plans Duties On Cheap Goods From Temu, Shein, AliExpress: FT

Amazon to Take on Temu, Shein With China-Linked Discount Store

China’s Shein Files For Potential London IPO as US Plans Stall

Shein London IPO Plan Under Fire From UK Lawmakers

 

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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.