Shein: Sajid Javid hunted for senior role at fast-fashion giant as London listing rumours swirl
Sajid Javid, the former chancellor of the exchequer, has reportedly been approached about taking a role at Shein.
The news follows reports the fast-fashion giant is gearing up for a bumper float on the London Stock Exchange.
On Monday, a report published by Sky News said Javid held talks with the retailer’s executive director, Donald Tang, with the political figure amongst a number of City hotshots to have engaged with Shein.
Sources familiar with the matter told the outlet that if the appointment proceeded it could see the MP “either join Shein’s board or become an adviser to the Chinese-founded company”.
They also added that former BBC Trust Chair Baroness Fairhead was on a list of candidates catching headhunters’ attention.
One person close to the company said: “The identities of those being approached reflected both the seriousness with which Shein was taking the issue of corporate governance and the extent of its focus on a London listing”.
Javid, who also served as secretary of state for health and Social Care between 2021-22, remains a MP for Bromsgrove.
Since leaving government, he has taken a role at Centricus, an investment firm that tried unsuccessfully to structure an offer for Chelsea Football Club around two years ago.
Many believe Shein will favour London over New York for its blockbuster IPO as the company has failed to convince US lawmakers it is not controlled by China.
If the listing went ahead, it would be seen as a major boost for London’s financial market after waving goodbye to a number of high-profile businesses such as TUI.
Shein is said to be valued at $66bn (£52bn).
While a mega success, the company has faced a number of controversies, mainly around its workplace practices.
Shein had previously promised to improve workplace conditions for its employees, but a recent report by advocacy group the Public Eye found some staff continue to work 75-hour weeks.
The company said it has made “significant progress on enhancing conditions across its ecosystem”.
Morning Wire has approached Shein and Mr Javid for comment.