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Retail guru Mary Portas has backed opposition to fast fashion giant Shein’s proposed UK stock market listing.
Known as “Mary, Queen of Shops” for her TV show, she joined the launch of the “Say No to Shein” campaign calling on the London Stock Exchange to block the Chinese retailer’s £50bn flotation.
She said: ‘This is a company with allegations of unethical business practices, modern slavery and breaching labour laws. Surely we are better than this?’
Fears: Mary Portas (pictured with Rachel Reeves) has backed opposition to Chinese fast fashion giant Shein’s proposed UK listing
Singapore-based Shein has been criticized for using suppliers who exploit low-paid workers in China to sell its clothes at bargain prices. By shipping directly from China to online shoppers, it avoids paying customs taxes.
Shein has reportedly filed documents with the Financial Conduct Authority, the first step toward going public.
The petition by fashion activist Venetia La Manna and writer Grace Blakeley has more than 33,600 signatures. It claims that Shein’s bargains are obtained by exploiting its workers and evading taxes.
The British Fashion Council has said the float was a “significant concern.” The concern of its American counterpart was one of the reasons Shein abandoned the plan for a float in New York.
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