Shein is a big online shop for fashion. The clothes are very cheap there. Now the firm goes to the stock market in Hong Kong. This happens on September 1. Shein wants to sell 280 million shares. The firm wants to earn almost 1.8 billion dollars with this. But the value of the firm drops right now.
The business of Shein runs worse right now. The firm earns less money than before. Recently there was even a loss of 99 million dollars. There are new rules for taxes in the USA. The competition with other firms is also big. Shein wants to use the new money for tech. New customers in other lands are also important.
Many people criticize the firm Shein. The criticism concerns bad conditions for the workers. There are accusations about forced work in the factories. The eco balance of the firm is also very bad. The clothes shall not last long. There were already high money fines for Shein in France. The firm defends itself against this criticism.
