Shein, the fast fashion giant with links to China, has confidentially filed for a public listing in London as it faces backlash in the U.S., a person familiar with the matter told CNBC.
Elected officials in the U.S. have repeatedly expressed concerns about the use of forced labor in Shein's supply chain and its use of a U.S. tax law exemption known as de minimis.
Shein would still prefer to go public in the U.S., sources previously told CNBC, and its filing in London doesn't mean that an IPO will happen there.
It's unclear if Beijing has signed off on the London listing.
Shein's London filing marks another twist in the company's so-far long road to a public markets debut.
Persons:
Shein, It's, Donald Tang, — CNBC's Sara Salinas
Organizations:
CNBC, U.S, National Retail Federation, U.S . Securities, Exchange Commission, Wall Street Journal, SEC
Locations:
China, London, U.S, Beijing, Singapore, Xinjiang