Chris Xu News

Shein from selling products on its own app as part of a larger crackdown on Chinese apps following escalated border conflicts between the two countries. Now, Shein has found a safe route to India: Mukesh Ambani's Reliance Retail Ventures, which will launch the Chinese fast-fashion label in the coming few weeks, ET has reported based on information from sources. Ambani's company will sell Shein's products on its app as well as offline stores owned and operated by Reliance Retail. It seems a safe India entry for Shein because this time the ownership and control of the platform will remain with Reliance Retail's subsidiary; the platform will be hosted on infrastructure in India; and all platform data will remain in India, which Shein will not have access to, or rights over, ET has reported based on information from sources.

When employees at fashion giant Shein crowded into an elevator in the company’s Guangzhou office at the end of one workday this summer, no one took notice of Sky Xu. The quiet man in the corner was one of the wealthiest people in China, the driving force behind an app that has quickly become one of the top shopping destinations in the world—and the boss of everyone riding the elevator. With Xu that day was Frances Townsend, a senior adviser to Shein.

(Reuters) — China-founded fashion company Shein has confidentially filed to go public in the United States, two sources familiar with the matter told Reuters on Monday.

Shein IPO: Firm in talks with banks, exchanges for listing, says report Representatives for Shein, JPMorgan and Morgan Stanley declined to comment. A spokesperson for Goldman Sachs didn’t immediately respond to a request for comment. The filing was reported earlier by Shanghai Securities News.