Shein Files for U.S. IPO Amid Labor Practice Controversies

The fast-fashion giant's potential IPO in 2024 faces scrutiny over allegations of forced labor in its supply chain.

Shein, the fast-fashion giant, has confidentially filed for an IPO in the U.S., which could take place in 2024.
Shein has been under investigation by a House Committee over potential use of forced labor within its supply chain in Xinjiang, China.
Attorneys general from 16 states sent a letter to SEC, urging not to allow Shein to go public unless it can guarantee adherence to U.S. law.
Shein has made efforts to distance itself from forced labor allegations, including moving its headquarters to Singapore in 2019.
The IPO could be a major test for investor appetite, particularly given the company's controversial labor practices and the current challenging IPO market.