Saturday, December 21, 2024

Turkey set to be big supplier hub for Shein

Must read




Shein plans to turn Turkey into a big supplier of its fast-fashion clothes in Europe in a move it hopes will reduce criticism of its use of Chinese labour.

It comes as the firm presses on with plans for a £50 billion flotation on the London Stock Exchange – despite growing concerns from Beijing.

Shein has reportedly filed papers with the Financial Conduct Authority that are the first step to a listing. 

But The Mail on Sunday revealed last week that Chinese officials are unhappy with the level of criticism that Shein has faced since revealing its plans, and may even push the company to list in Hong Kong instead.

Critics say Shein uses suppliers in China who exploit low-paid garment workers allowing it to sell its clothes at knockdown prices. 

Related Articles

HOW THIS IS MONEY CAN HELP

The British Fashion Council said the float was a ‘significant concern’.

Shein, based in Singapore, plans to use more suppliers who are closer to its main markets.

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.



Latest article