© Reuters. FILE PHOTO: A Shein logo is pictured at the company’s office in the central business district of Singapore, October 18, 2022. REUTERS/Chen Lin/File Photo
By Katherine Masters and Arriana McLymore
NEW YORK (Reuters) – As China-founded e-commerce behemoth Shein moves to list in New York, U.S. lawmakers are again calling on it to prove that forced labor is not used to make its $5 t-shirts and $10 sweaters.
Shein confidentially filed for an initial public offering on Monday and could launch sales of its shares some time in 2024. The Singapore-based company has not determined the size of the deal or the valuation at IPO. Bloomberg reported earlier this month that it targeted up to $90 billion in the float.
Founded in 2012, Shein has been eyeing a U.S. IPO for at least three years but has been deterred by headwinds that included tensions between Beijing and Washington.
The online fast-fashion retailer, which manufactures most of its merchandise in China, faces criticism that Uyghur forced labor is used to make its low-priced apparel and home goods.
Critics are concerned that Shein may use contract manufacturers in China’s Xinjiang region, where advocates and…
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