It is reported that Shein will be listed in the United States as early as 2024

It is learned that according to Bloomberg, Chinese fast fashion giant Shein hopes to conduct an initial public offering in the United States as early as 2024. Previously, Shein had sought an IPO in the United States in 2022.

Currently, Shein is valued at $100 billion. However, reports indicate that Shein is facing environmental, social and governance (ESG) issues that could become an obstacle to its IPO.

Shein is facing criticism for how its clothing factories treat workers. An investigation by Swiss watchdog PublicEye said some of Shein's manufacturers had been subjecting employees to dangerous conditions and working 75-hour weeks.

In addition, Shein's cheap product line, built on a flexible supply chain, is under scrutiny. Critics have questioned the environmental friendliness of Shein's clothing, and the criticism has spread to faster fashion more broadly. A 2019 World Bank report said the number of fast-fashion garments produced each year has doubled from 50 billion in 2000.

While these concerns haven’t deterred large investors such as Sequoia Capital China, IDG Capital and Tiger Global Management, Shein’s recent executive moves appear focused on improving its ESG image in preparation for a public offering, according to Bloomberg.

Shein did not immediately respond to a request for comment.

Editor✎ Ashley/

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