The TV retail consultant known as ‘Mary Queen of Shops’ has called on the government to block a proposed London stock market listing by Shein.
Mary Portas, who carried out a review of the UK’s high streets for the David Cameron-led coalition government, was speaking as an online petition from the Say No to Shein campaign neared its target of 35,000 signatures.
The China-founded fast fashion company is expected to seek a £50 billion valuation in an initial public offering (IPO) late this summer or early autumn.
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The prospect of a London listing emerged after being rejected in the US, where Chinese companies often face a hostile reception due to alleged links to the state.
Sky News revealed in early June that the company was on the verge of fill out a prospectus with the Financial Conduct Authority and was later said, by the Reuters news agency, to have taken this step.
Shein’s critics say the UK government should block the order until it has completed a full investigation into the company’s labor practices, environmental impact and tax provisions.
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It also faced complaints related to copying branded products to sell at discounted prices.
“Why would we as a country consider listing a company like Shein on the London Stock Exchange?” said Portas.
“This is a company with allegations of unethical business practices, modern slavery and violations of labor laws. Surely we are better than that?”
Last month, a separate UK-based group called Stop Uyghur Genocide launched a legal bid to block any Shein IPO in London.
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The company has not yet commented on the petition, but has said that it is committed to respecting human rights and has a zero tolerance policy for forced labor.
Shein executives met with Conservative and Labor politicians ahead of the general election.
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Labor has already signaled conditional support for a Shein IPO, but said it should be regulated in the UK.
The company’s current base is Singapore.
The UK government, like its Conservative predecessor, is keen to bolster the UK’s appeal as a place to do business, after other key financial services destinations such as New York benefited from new businesses following the Brexit.
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