Former Asos Chief Executive Nick Beighton Raises Alarm About Shein’s Business Methods

The ex-Asos CEO Nick Beighton voiced concerns regarding Shein’s potential entrance on the London Stock Exchange, recognizing the retailer’s groundbreaking business strategy but warning that some aspects were worrisome.

Addressing the attendees at the Source Fashion trade show in London, Beighton pointed out his discomfort with Shein’s clothing manufacturing standards, lack of openness, and reputation for being secretive.

He stressed the importance of upholding high standards on the London Stock Exchange, asserting that it should be exclusively available for top-tier brands and sectors.

This critique aligns with the increasing resistance to Shein’s potential London stock debut, as retail expert Mary Portas launched an online plea against the idea.

Recent accounts hinted that Shein’s £50bn initial public offering could be at risk due to the EU’s proposed customs levy on inexpensive items.

In the midst of concerns from retailers in Europe and the US regarding the growing rivalry from Chinese-linked platforms like Shein and Temu, who take advantage of tax exemptions on low-priced items, these strategies are gaining momentum.

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