From CNBC: 2024-05-13 06:00:01

Fast fashion giant Shein, valued at $66 billion, aims to win over U.S. lawmakers ahead of a potential IPO. Repeatedly rejected by the National Retail Federation, Shein faces scrutiny due to its ties to China and supply chain. Acceptance could lend legitimacy, but criticism over data sharing and forced labor persists.

NRF discussions with Shein remain ongoing; no official rejection stated. Membership criteria unclear, but typically open to retailing companies who pay dues. Board members have not discussed Shein specifically, implying leadership will make final decision. NRF seeks to grow its ranks, including into nontraditional markets like tech.

Shein seeks acceptance in retail industry through NRF, which could improve credibility with investors and federal lawmakers. Despite challenges, Shein’s rapid growth has impacted U.S. market share and challenged major players like Macy’s and Walmart. NRF acceptance could help pave the way for a successful U.S. IPO.



Read more at CNBC: NRF rejects Shein membership as retailer pursues U.S. IPO