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Shein aims for London IPO after U.S. setback
Shein is still looking to IPO, according to Reuters. The company is seeking to list on the London Stock Exchange (LSE) and could potentially complete its IPO as early as April.
Challenges and Controversies
The decision to pursue an IPO in London comes after Shein faced hurdles trying to list in the U.S. Lawmakers in the U.S. expressed concerns over Shein’s ties to China and labor practices. However, the move to London is not without its obstacles either, as a senior U.K. lawmaker has raised concerns about Shein’s supply chain and forced labor to the LSE.
Sustainability Concerns
In addition to labor issues, Shein has also faced criticism for its sustainability practices. The company has been identified as one of the main contributors to fast-fashion practices that are harmful to the environment, as reported by Time.
