Shein files for IPO

👑 Fashion King - Shein became the world’s largest fashion retailer in 2022 with its CEO Chris Xu. The company is known for its cheap prices, ever changing designs and heavy influencer campaigns.

💸Shein’s Value - Shein was valued at $66 billion at the start of 2023 and could be valued higher now. They also asked big banks like Goldman Sachs, JPMorgan and Morgan Stanley to be lead underwriters which could help drive up prices and demand for the stock. Its ranked the 3rd most valued venture backed unicorn after Bytedance (TikTok) and SpaceX

Shein, however, has its own fair share of controversies:

• 🔨 Horrible working conditions after being accused of forced labor

• 📝 Copyright infringements on designs where designers make a viral video about the issue

• ♻️ Impact on environment with its fast fashion strategy: making clothes that quickly go obsolete