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Chinese clothing giant Shein plans to do an initial public offering in the US as soon as 2024, according to a report by Bloomberg News.
Shein, which has a valuation of $100 billion, faces environmental, social and governance, or ESG, concerns that hinder the process of its IPO.
The fast-fashion company has faced criticism for its cheap products and short-term wearability and poor working conditions subjecting employees to dangerous conditions and 75-hour workweeks.
An Austin-based social enterprise group gave Shein zero points out of 100 for its commitment to sustainability. The Chinese company was the only major brand to receive a score of zero.
Picture Credits: Getty Images
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