Retail expert Mary Portas and former Green Party leader Caroline Lucas have endorsed a new campaign urging the UK government to refuse Shein’s potential listing on the London Stock Exchange (LSE).
The campaign, titled “Say No to Shein,” aims to block the highly-anticipated initial public offering (IPO) and calls for a comprehensive investigation into Shein’s business practices.
The campaign has launched a petition urging the government to scrutinise Shein’s labour practices, environmental impact and tax arrangements.
As of July 17, the petition had garnered over 33,000 signatures, reflecting significant public concern.
Portas, a renowned figure in the retail industry, questioned the potential embrace of Shein by the LSE. She said: “Why would we as a country consider embracing a company like Shein on to the London Stock Exchange? This is a company with allegations of unethical business practices, modern slavery, and violating labor laws. Surely we are better than this?”
Lucas echoed Portas’s concerns. “There should be no place on the London Stock Exchange for companies that exacerbate climate breakdown, violate workers’ rights, and avoid taxes,” she argued.
She stressed the importance of the UK government’s commitment to higher social and environmental standards, urging them to block Shein’s listing until comprehensive safeguards are applied and any abuses are fully addressed.
Adding to the chorus of opposition, former ASOS CEO Nick Beighton expressed reservations about Shein’s business model. Speaking at the Source Fashion trade show in London, Beighton described aspects of Shein’s operations as both “genius” and “something to be terrified about”.
He criticized the company’s lack of transparency and opaqueness, saying that such practices make him “extremely nervous”.
The opposition to Shein’s IPO comes amid broader international scrutiny of the company. Earlier this month, reports indicated that Shein’s £50 billion IPO was at risk due to the European Union’s plans to impose a customs duty on cheap goods. This move responds to rising concerns from retailers in Europe, the UK, and the US about the competitive advantage of Chinese-linked marketplaces like Shein and Temu, which exploit a loophole excluding low-value items from taxation.
Everything I wore on Day 29 of the 90 days of Shein challenge:
SHEIN LUNE Women’s Batwing Sleeve Round Neck T-shirt, grey
Black and white stripe skirt (thrifted)
Dazy-Less Women’S V-Neck Drop Shoulder Long Sleeve Sweater, green
2024 New Style College Wind Black & White Outdoor Sports Shoes for Women
Allover Leaf Graphic Drawstring Backpack
DAZY Women’s Floral Print Sleeveless Round Neck Sleep Dress
Fashion Slowdown 
Leave a comment