Fast-fashion juggernaut Shein is facing more scrutiny from elected officials in the U.S. who want the company to prove it doesn't use forced labor before it files for a widely rumored initial public offering.
"It is apparent that SHEIN is attempting to launch an IPO before the end of this calendar year.
Shein has faced accusations that it used forced labor from the Xinjiang region in China to fuel its meteoric rise as rumors swirl that it is preparing to go public.
"These are in raw materials so when we have a raw material positive test, that means that raw material is removed from production," Pernot-Day said.
Pernot-Day said one of Shein's primary objectives at the moment is to get its positive test results down to zero.
Persons:
Gary Gensler, SHEIN, Austin Knudsen, Shein, Peter Pernot, Oritain
Organizations:
U.S . Securities, Exchange, Montana's, Sparc Group, Chinese Communist Party, Bloomberg, CNBC, Politico
Locations:
U.S, Xinjiang, China, Shein