Based in Singapore with a large presence in China, the online retail behemoth recently submitted the private documents to UK authorities, according to people familiar with the proceedings.
Shein, which sprang to prominence as one of the world’s largest apparel shops during the epidemic, has come under fire for its business model’s negative environmental effects.
The corporation has faced criticism for certain aspects of its operations, such as claims that forced labor occurs in its supply chain, which it refutes.
The Financial Conduct Authority (FCA), a UK regulator, and Shein both declined to comment on the possibility of a London IPO, which may fetch the company a valuation of approximately £50 billion.
Leading Republican on the US Senate Intelligence Committee and Trump ally Marco Rubio emailed UK Chancellor Jeremy Hunt earlier in June to warn him about Shein’s “deep ties to the People’s Republic of China” and “grave ethics concerns.”
In his letter to Mr. Hunt, Mr. Rubio stated, “The dirty secrets behind SHEIN’s success are slave labor, sweat shops, and trade tricks.”
From Wilberforce and Cowper to the Modern Slavery Act of today, the United Kingdom has a long history of abolitionism. I hope you will give these accusations against SHEIN your full attention.
