Initial Assessment Report For A Complaint Filed By A Coalition Of 28 Organizations About The Activities Of Levis Strauss & Co. Canada Inc.
Portfolio Pulse from Benzinga Newsdesk
A coalition of 28 organizations has filed a complaint against Levi Strauss & Co. Canada Inc., alleging that the company has commercial relationships with Chinese companies that use Uyghur forced labor. The complaint is based on reports from the Australian Strategic Policy Institute and Dr. Laura Murphy, which document evidence of forced labor and trace Levi Strauss products to three Chinese corporations. Levi Strauss has not provided a response to the allegations or detailed its human rights due diligence processes. The Canadian Ombudsperson for Responsible Enterprise (CORE) has decided to launch an investigation using independent fact-finding.
September 20, 2023 | 1:32 pm
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NEGATIVE IMPACT
Levi Strauss & Co. is facing a complaint and subsequent investigation regarding alleged ties to Chinese companies using Uyghur forced labor. This could potentially harm the company's reputation and impact its stock price.
The allegations of ties to forced labor could significantly harm Levi Strauss & Co.'s reputation, potentially leading to a decrease in consumer trust and sales. This could negatively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100