Campaign to Block Shein London Listing Gains Momentum

A new campaign, supported by British retail consultant and television personality Mary Portas, has launched an online petition urging the new Labour government to block fast fashion retailer Shein from listing its shares in London.

The campaign’s accusations against Shein include exploiting workers, damaging the environment, and avoiding taxes.

Shein IPO Plans:

China-founded Shein, known for its low-cost fashion items, confidentially filed papers with Britain’s markets regulator early last month, as two sources told Reuters. This move initiates a potential London listing process later in the year.

The “Say No to Shein” campaign, backed by former Green Party lawmaker Caroline Lucas, calls for the government to halt Shein’s application to list on the London Stock Exchange until a thorough investigation into its labor practices, environmental impact, and tax arrangements is completed.

Statements from Shein:

In response to the campaign, Shein stated, “Shein refutes these inaccurate allegations based on outdated sources and false claims. We are open to engaging with our critics to provide a true picture.

Shein has responded to similar incorrect claims with tangible evidence of our commitment and investment to provide a safe and fair work environment across our supply chain.”

Political and Public Reactions:

Before Britain’s July 4 election, Labour supported Shein’s listing in London. However, opposition to the move is growing. Mary Portas, speaking on Wednesday, questioned the decision to embrace a company with allegations of unethical business practices, modern slavery, and violating labor laws.

Last month, the UK-based human rights group Stop Uyghur Genocide launched a legal campaign to block any London initial public offering by Shein.

Shein’s Commitment to Improvement:

In May, Shein stated it was actively working to improve suppliers’ practices and investing tens of millions of dollars to strengthen governance and compliance within its supply chain.

As of July 17, the petition had garnered more than 33,000 signatures, reflecting significant public concern over Shein’s business practices and the potential implications of its listing on the London Stock Exchange.