By Jing Xuan Teng, with Peter Catterall in Beijing SHANGHAI, March 22, 2024 (AFP) – With jaw-droppingly low prices and a seemingly endless selection of trendy clothes, Shein has taken the world by storm — and found itself in the crosshairs of French lawmakers who want to curb the excesses of fast fashion. Customers love the Chinese-founded firm’s massive catalogue of ultra-cheap items, from $8 sundresses to 48-cent bracelets, at a time when inflation has […]
Tag: SHEIN
Fast-fashion giant Shein applies to go public in US: report
Chinese-founded fast fashion giant Shein has confidentially applied to go public in the United States, the Wall Street Journal reported Monday, calling the move potentially one of the biggest IPOs in years. The offering could come next year, the newspaper said, citing people familiar with the matter and adding that Chinese media had also reported on the filing. Banks Goldman Sachs, JPMorgan Chase and Morgan Stanley have been tasked with underwriting the offering, according to […]
Chinese fast fashion giant Shein denies low prices due to forced labour
PARIS, May 5, 2023 (AFP) – Chinese cut-price fast-fashion giant Shein defended its business model in an interview with AFP, saying demand-based production accounted for its low prices and not forced or cheap labour. Founded in China in 2008, Shein has swiftly claimed a top place in the global fast-fashion marketplace, offering young social-media-savvy customers low-priced collections that turn over at a steady clip. The Singapore-based firm’s strategy chief Peter Pernot-Day told AFP that Shein […]
