5 months ago
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Shein, the controversial fast fashion giant whose popularity soared during Covid, may soon tighten its ties with the UK with plans to sell shares in the business on the London Stock Exchange.
The Chinese firm could file the relevant paperwork as soon as this week, potentially valuing the company at US $66 billion or nearly £52 billion.
Shein’s formula of offering a huge range of cheap clothes – backed up by campaigns with social media influencers – has turned it into one of the biggest fashion retailers in the world.
But it has faced severe criticism over its environmental practices, as well as allegations around the use of forced labour in its supply chain.
The company is looking at the UK as a place to sell its shares after facing hurdles and intense scrutiny in the US.
Shein filed documents in the US last November.
Some US lawmakers raised concerns about Shein’s links to China as tensions between Washington and Beijing intensified.
English (US) ·