The story so far: Three U.S.-based designers and artists on July 11 filed a lawsuit against Chinese fast-fashion retailer Shein, alleging that the company indulges in copyright infringement that “constitutes racketeering”.
The case against Shein was filed in a California district court,with the plaintiffs invoking sections of the Racketeer Influenced and Corrupt Organisations Act (RICO). The lawsuit also expressed surprise that for all the scrutiny that TikTok – yet another Chinese app – has been subjected to, the U.S. Congress has not considered “more dramatic action” against Shein.
In April 2022, Shein was valued at $100 billion for a capital-raising round, Bloomberg reported. This would have made it as valuable as Elon Musk’s SpaceX, and more valuable than fast-fashion giants H&M and Zara combined, the report added.
