Workers’ rights campaigners are urging the UK’s next government to oppose the inclusion of online fashion retailer Shein in the FTSE, citing significant concerns over labor practices and accusations of intellectual property theft. They argue that allowing Shein to join the London stock exchange would be “yet another betrayal to working people everywhere and the planet.”
Concerns Raised by Labour Behind the Label
Labour Behind the Label, a leading campaign group, expressed dismay at reports of senior British politicians engaging with Shein about its potential £50bn listing. The group’s campaigns lead criticized Shein’s lack of transparency regarding its supply chain and highlighted ethical concerns associated with the company’s operations.
Investigative Findings and Allegations
Several troubling findings and allegations have been brought to light:
- Labour Practices: A recent investigation by Switzerland-based non-profit group Public Eye revealed that workers producing garments for Shein routinely work more than 70 hours per week.
- Forced Labour: There have been exposés alleging the use of forced labor in the Uyghur region of China, further tarnishing Shein’s reputation.
- Design Appropriation: Shein has faced numerous lawsuits due to its “cavalier approach to design appropriation,” with accusations of copying garments from other designers.
Calls for Greater Scrutiny
In light of these issues, senior UK politicians are calling for increased scrutiny of Shein’s potential Initial Public Offering (IPO) on the FTSE. The push for thorough evaluation reflects broader concerns about the ethical implications of allowing a company with such a controversial track record to join the prestigious London stock exchange.
Also learn about Shein’s Soaring Success: Profits Surge as IPO Awaits Decision.
