Shein files for U.S. IPO as fast-fashion giant looks to expand its global reach
Publishing timestamp: 2023-11-27 18:53:46
Summary
Shein has confidentially filed to go public in the U.S. and has tapped Goldman Sachs, JPMorgan, and Morgan Stanley as lead underwriters. The company has faced accusations of forced labor, labor law violations, environmental harm, and design theft. It is currently under investigation and lawmakers have called for scrutiny of its supply chain. Shein has made efforts to address these issues and has acquired a stake in Sparc Group. However, it still needs to win the trust of U.S. regulators, and its CEO remains a mysterious figure.
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Keywords: breaking news: business, goldman sachs group inc, fashion, ipo, jpmorgan drn, united states, business news, goldman sachs bdc inc, morgan stanley,