Influencer backlash is the latest threat to fast-fashion giant Shein’s IPO plans

The retailer’s China junket for social media creators revived bad press about working conditions. The hubbub threatens Shein’s attempts to go public in New York, which the company began planning in 2020 with Goldman Sachs Group Inc. and other investment banks. Despite recent speculation about the company’s future plans, Shein hasn’t yet filed for an IPO and hasn’t hired bankers, according to people familiar with the matter, who asked not to be named discussing internal business. 

“Financial sponsors want an exit,” said Jay Ritter, Cordell Eminent Scholar, “so I would not be at all surprised if Shein does go ahead with an IPO.”

Read more of Ritter’s insights on Shein’s IPO in this story from Bloomberg.