Sen. Marco Rubio sent a letter published Tuesday to British Chancellor of the Exchequer Jeremy Hunt urging the UK government not to allow the Chinese “fast fashion” company Shein to list on the London Stock Exchange.
“News reports indicate that SHEIN seeks a stock-market listing in London. SHEIN previously sought to list in New York City, but failed due to concerns about its unethical and irresponsible business practices,” Sen. Rubio. “At the time, I warned U.S. securities regulators about SHEIN’s alleged exploitation of slave labor and trade loopholes. I now feel a duty of friendship to repeat these warnings and urge caution before the United Kingdom allows SHEIN to list in London.
The senator warned that, as in America, Shein’s ability to exploit “modern-day slavery” gives it unfair advantages over homegrown companies.