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The former boss of Asos has added to growing criticism of fast fashion giant Shein by questioning whether it should be listed on the London Stock Exchange.
Nick Beighton, who built Asos into one of the UK’s biggest clothing retailers as chief executive between 2016 and 2021, is the latest industry figure to raise questions about the Singapore-based firm. Shein is reportedly looking to join the market in a £50bn IPO.
“The way clothes are produced, the lack of transparency, the notorious opacity, makes me very nervous,” he said. “I think the London Stock Exchange should be the premier venue for the best brands, the best industries and the highest standards.”
Concern: Shein reportedly looking to join the London Stock Exchange in a £50bn IPO
The comments, first reported by Drapers magazine, were made at a sustainable fashion event at London’s Kensington Olympia.
High street retailers are also unhappy that Shein avoids paying high customs duties by shipping directly to online shoppers from China. Shein has been contacted for comment.
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