Shein edges nearer to controversial £50bn London itemizing as China denies human rights abuses
Fast fashion giant Shein plans to list in London in the first half of the year.
The £50billion listing could be sorted by Easter, sources say, as Chancellor Rachel Reeves heads to China for talks on economic and financial cooperation, which could help Shein win regulatory approvals.
The Chinese firm declined to comment. A float would be controversial due to allegations of forced labour in the online retailer’s supply chain.
Top money managers have warned that the City should not become a listing ‘place of last resort’.
Based in Singapore, Shein was founded in China and makes its clothes there.
Human rights organisations have accused China of using slave labour, claiming Uyghurs are forced to produce cotton. Beijing has denied abuses.
Human rights concerns: Fashion giant Shein relies on suppliers in China to make its cheap clothes
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