The former boss of Asos has joined growing criticism of fast fashion giant Shein in asking whether it should list on the London Stock Exchange.
Nick Beighton, who turned Asos into one of the UK’s biggest clothing retailers as chief executive from 2016 to 2021, is the latest industry figure to raise questions about the Singapore-based firm. Shein is reportedly seeking to join the market in a £50 billion float.
‘Some of how it is producing garments, the lack of transparency, its renowned opaqueness, makes me very nervous,’ he said. ‘I think the London Stock Exchange should be the premier place for the best brands, the best industries, and the highest standards.’
Concern: Shein is reportedly seeking to join the London Stock Exchange in a £50 billion float
The comments, first reported by Drapers magazine, were made at a sustainable fashion event at London’s Kensington Olympia.
High Street retailers are also unhappy because Shein dodges hefty customs duty as it ships direct to online shoppers from China. Shein was contacted for comment.
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