Shein checks urged after refusal to answer 'basic' questions
www.bbc.com
The chair of a committee of MPs has written to the London Stock Exchange with concerns over the fashion retailer.

Cross posted from: https://beehaw.org/post/17979914

The London Stock Exchange (LSE) has been asked what checks are in place to vet firms after fast-fashion retailer Shein refused to answer “basic questions” over its supply chain.

Liam Byrne, chair of the Business and Trade Committee, wrote to Dame Julia Hoggett asking if the stock market had tests in place to “authenticate statements” by firms seeking to list, “with particular regard to their safeguards against the use of forced labour in their products”.

It comes after MPs branded the evidence of a Shein lawyer “ridiculous” when she refused to say if the company sold products containing cotton from China.

Byrne told Dame Julia that MPs were “profoundly concerned at the lack of candid and open answers”.

“The committee would like to draw your attention to the concerning evidence we heard,” he said in a letter to the LSE chief executive on Friday.

The BBC understands Shein, founded in China but now headquartered in Singapore, has filed initial paperwork to list in the UK, which could value it at £50bn. It follows the retailers rapid rise to one of the biggest fast fashion firms globally, shipping to customers in 150 countries.

But questions remain over the company’s supply chain amid allegations of forced labour and human rights abuses.

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  • mannycalaveraEnglish
    2·
    21 hours ago

    I agree on paper. But we’ve seen many time before “legally responsible” isn’t really a deterrent for some people in society. If there’s money to be made, made it will be!

    All I’m saying is that if they suddenly approve the listing after the chancellor returns despite the lack of transparency I will not be surprised in the slightest.