THE WHAT? The chairs of three UK parliamentary committees have raised concerns over Shien’s planned London listing and are calling for greater scrutiny of the Chinese fast fashion firm ahead of any IPO.
THE DETAILS According to a report published by Reuters, Shien has set its sights on London after its plan to float in New York hit regulatory rocky ground.
THE WHY? Alicia Kearns, Conservative Chair of the Foreign Affairs Committee, told The Guardian, per Reuters, “With Shein’s prices so low, the London Stock Exchange needs to ask itself, whose suffering is subsidising those prices. A company which has failed to make full disclosures about its supply chains as required by UK law, and where there are grave concerns about its factory working conditions has no place in London.”