From researching this claim, it seems to be true. The fashion giant Shein launched in the late 2000s, eventually finding success with the rise of the social media app TikTok. The brand offered customers cheap, on-trend items. However, what seems like a great business model has been embroiled in controversy. From environmental concerns due to the inexpensive items that are typically discarded quickly into the landfill, to claims that their factories use forced labor in the production of their products.
In the London Stock Exchange, the controversies have been top of the minds of many activist groups, many of which are trying to block its ability to go public in the UK. Yahoo Finance echoed the claims made by The Independent that the company may be planning one of the UK's largest stock market float. The company's IPO (initial public offering) is also likely to be very high due to the company's rising reported earnings.
