Concern: Top investors have warned that courting Shein reeks of desperation The British Fashion Council (BFC) has warned Shein's planned £50 billion float on the London Stock Exchange is a 'significant concern' to the industry. In a snub that could dent the Chinese online fashion giant's efforts to woo the City, the influential trade body said 'questions remain' about the group's controversial business practices. Shein has been criticised for using suppliers who exploit low-paid garment workers in China in order to sell its clothes at knockdown prices.
The BFC's intervention comes at a critical time for Shein as it reportedly finalises plans to list London in what would be this year's biggest flotation. A backlash from the BFC's US equivalent, the National Retail Federation, was one of the reasons that Shein had to ditch its original plans to float in New York. Shein is not part of the BFC, whose members include Mulberry, Burberry and Jimmy Choo, while patrons include River Island and Jigsaw.
The BFC did not comment on whether Shein would be allowed to join in future. Caroline..
. Emily Hawkins.
