LONDON – A long-term shareholder in Nike has written an open letter to the sportswear brand criticising the company for its failure to respond to concerns about forced labour risks in its supply chains. Activist investment platform Tulipshare claims Nike has stonewalled requests to explain what it is doing to address such issues.
Tulipshare claims it has contacted Nike three times in the past year but has yet to receive a response. “The Company’s unresponsiveness demonstrates that Nike is willingly ignoring shareholders on issues concerning forced labour – a particularly salient risk within business operations and supply chains of apparel & footwear (A&F) sector companies,” the letter states.
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