This week the Wall Street Journal reported that fast fashion company Shein had confidentially filed to go public in the U.S. This is the first step of what I fully expect to be one of the most contentious IPOs of the downturn.
It’s already a tough time to go public in the U.S., with most companies opting against it at the moment. But it will be especially difficult for Shein. While the retailer may have drawn the favor of investors due to its enormous revenue figures, Shein has made plenty of enemies within Washington, D.C., largely due to press reports about problematic labor practices within its supply chain. It's a clear example of how contentious U.S. and China business relations have become.
