Considered by some to be the unacceptable face of fast fashion, the Chinese behemoth Shein is about to test its acceptability on Wall Street, said The Economist.
Its forthcoming float could be "one of the biggest New York listings in years". There's a lot at stake. The company, founded by Chris Xu (aka Sky Xu), was valued at $66bn in May (down by a third on a year ago), but it "will probably aim for a higher valuation" of $80-90bn – testing an IPO market "dampened by soaring inflation and high interest rates". Although Shein shifted its HQ to Singapore in 2021, the move is also a marker of broader Sino-US relations.
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