Shein has long been plagued by accusations of exploitative and forced labor conditions in its supply chains. In addition, it has faced multiple lawsuits for copyright infringement. Now, the fast fashion colossus wants to add legitimacy to its brand by joining The Financial Times Stock Exchange (FTSE) and being listed on the London Stock Exchange. However, according to a recent article in The Guardian, workers’ rights groups and the British Fashion Council (BFC) are calling on the next U.K. government to oppose this move due to a lack of transparency about its supply chain and ethical concerns.

Financial legitimacy with a huge price tag
The FTSE 100 Index is the U.K.’s best-known stock market index. It comprises the 100 most highly capitalized blue-chip companies on the London Stock Exchange. Shein joining the FTSE could be the U.K.’s biggest-ever stock market flotation. This is why Chancellor of the Exchequer Jeremy Hunt supports the application. Other supporters see Shein’s potential listing as a sign of hope for London after some major companies have decided to list elsewhere. But many politicians and activists see the move as coming with too high an ethical cost.

Mathias Bolton, head of commerce at UNI Global Union, which represents service industries around the world, said:

“Shein shouldn’t be rewarded with the credibility of being listed in the City (London), or anywhere else, given the lack of transparency in their supply chain and shocking reports of severe labor violations.”

Alena Ivanova, campaigns lead at Labour Behind the Label, also viewed the news “with dismay” pointing to the well-documented labor issues that continue to plague Shein. And, in addition to forced labor and labor exploitation concerns, the BFC, whose members include Burberry, Mulberry, and Victoria Beckham’s fashion label, said they felt Shein’s proposed inclusion on the FTSE was a “significant concern” to the U.K. fashion industry as a whole.

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