A UK charity campaigning for Uyghur rights group has urged the Financial Conduct Authority to block the London listing of Chinese fast-fashion retailer Shein Group.
A legal campaign against the planned London Stock Market initial public offer has been launched by the charity, Stop Uyghur Genocide, supported by human rights-focused law firm Leigh Day.
Campaigners wrote to the FCA saying "any attempt by Shein to list on the LSE should be refused", alleging that people in the Uyghur minority are being used as forced labour at some of the clothing giant's suppliers.
Shein, which was founded in China but has since moved its HQ to Singapore, was valued at $66 billion last year.
It has been exploring a London listing after getting pushback in the US, its preferred IPO destination.
Shein is expected to file a prospectus within weeks.
Amnesty International UK also this week said the listing would be a “badge of shame” for London over Shein’s "questionable" labour and human rights standards, accusing the company of "little transparency and accountability for the pay or conditions endured by workers".
"Where SHEIN goes, others will try to follow," Amnesty said. "The UK authorities and the London Stock Exchange should not facilitate SHEIN’s listing until transparent and binding safeguards regarding internationally accepted human rights standards covering its entire supply chain are agreed and applied, and any abuses identified fully remedied."
In a statement, Shein said it "has a zero-tolerance policy for forced labour and we are committed to respecting human rights. We take visibility across our entire supply chain seriously and we require our contract manufacturers to only source cotton from approved regions."