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Alibaba Rival Shein Confidentially Files London IPO Filing Amid US Regulatory Hurdles On Chinese Firms: Report

Shein, the fast fashion behemoth and rival to Alibaba‘s online fashion arm, reportedly filed for an initial public offering (IPO) in London. This move comes amid the company’s ongoing struggles with its U.S. IPO filing. What Happened: Shein’s confidential filing for a London IPO follows its U.S. IPO filing last year, CNBC reported on Monday. The company’s attempts to expand globally have been marred by allegations of forced labor in its supply chain and its use of a specific U.S. tax law exemption. The National Retail Federation has repeatedly rejected Shein’s membership ...