Shein signs during its opening, at ABC Serrano, on April 26, 2024 in Madrid, Spain.
Alejandro Martínez Vélez | Europe Press | Getty Images
Fast fashion giant Shein has confidentially filed for a public listing in London, a person familiar with the matter told CNBC.
This is another turning point in the company’s long road to its debut on the public markets. Shein confidentially filed for an IPO in the United States late last year as it sought to expand its global reach, CNBC previously reported.
But the retailer has faced growing backlash over allegations of forced labor in its supply chain and its reliance on a special tax exemption in U.S. law. Shein has repeatedly applied for membership in the National Retail Federation, the industry’s largest trade association, and has been repeatedly rejected, CNBC reported.
IPO experts told CNBC that a U.S. offering was becoming increasingly unlikely and that a London offering could circumvent some of the expected hurdles.
This story is developing. Please check again for updates.
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