Shein is kind of a big deal. In 12 years, the Chinese fast-fashion behemoth has exploded in size and now reaches over 150 countries. Its $5 dresses and accessories have caught the attention of younger shoppers looking to get more for less.
As it has grown, Shein has been in the crosshairs of American lawmakers. It initially planned to list its shares in the U.S.
, but it has since shifted its gaze to London, where it reportedly plans to float in the coming weeks. Although Shein has not officially announced a date, its eventual IPO would be London’s most high-profile in years. It is coming very soon and it’s probably going to happen in London.
Singapore-headquartered Shein is preparing to file a prospectus for its IPO that could value it at around £50 billion ($63.7 billion), Sky News reported Sunday. It could go public as early as this week.
Shein was preparing to list in the U.S., but ran into problems over the company’s alleged use of cotton from China’s Xinjiang region, where ethnic minorities, including the Uyghurs, live.
The company has argued that it has a zero-tolerance policy for forced labor. Its environmental practices have also been a cause for concern for countries that see them as unsustainable. The online retailer tried to swiftly move on by courting a London listing, but may find these issues continue to make life awkward, AJ Bell’s Russ Mould suggests.
“Shein may find the glare of a public market listing uncomfortable given concerns about its gover.
