Republican attorneys general from 16 U.S. states asked the Securities and Exchange Commission to audit China-founded fast-fashion retailer Shein’s supply chain for the use of forced labour ahead of its potential initial public offering.
Amid rising friction between Washington and Beijing, the letter, sent to the SEC last week, added to pressure on Shein as China hawks in Congress target Chinese firms that do not align with U.S. foreign policy goals.
Shein, which sells $7 dresses and $5 home goods in more than 150 countries, has moved its headquarters to Singapore but manufactures most of its products in China.
The letter urged the SEC to ensure that Shein and other foreign companies listed on U.S. exchanges verify through independent audits that they comply with U.S. laws that prohibit imports made with any forced labour.
Shein has previously said it does not plan to IPO this year and has zero tolerance for forced labour. Shein was not immediately available to comment on the letter or its IPO plans.
via Reuters
Image via Shein Twitter
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