Fast-Fashion Giant Shein Files to Go Public.

Shein, a China-founded online fashion company, has confidentially filed to go public in the U.S. The company, valued at $66 billion earlier this year, is expected to have one of the biggest IPOs in years. Shein has disrupted the clothing industry with its affordable and trendy clothing, and it has become one of the largest fashion brands in the world. The majority of companies that have gone public in the U.S. have performed poorly, but IPO bankers expect more companies to debut next year. Shein recorded $23 billion in revenue and $800 million in net profit in 2022, and it is the largest market for the company. Shein has faced scrutiny over its supply chain, with U.S. lawmakers questioning whether it sources cotton from China's Xinjiang region, where forced labor is alleged to occur. The company has denied these allegations and stated that it has a zero-tolerance policy for forced labor. Shein has been diversifying its supply chain and expanding into other markets, such as Turkey, Brazil, and India. [Extracted from the article]