Shein, a fast-fashion giant, has secured approval for its initial public offering in Hong Kong. This may force its secretive founder and CEO, Sky Xu, to finally come out of the shadows. Xu has avoided interviews and public events, and has no visible online presence.
Background
Xu founded the e-commerce company in China in 2012 as Sheinside. He has delegated the public aspects of leadership to others, including former banker and media executive Donald Tang. Despite Shein’s growing global recognition, Xu had hesitated for years about going public, believing the company should not rely on outside financing to compete against rivals.
Xu’s lack of public information has contributed to concerns around Shein’s IPO from politicians and campaigners in the U.S. and Britain. The company has taken steps to distance itself from China, moving its headquarters from China to Singapore in 2022.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
