two people hold two shein bags after entering sheins first physical store in madrid spain june 2 2022 chinese fast fashion giant shein on friday denied a reuters report that said it has confidentially filed for an initial public offering in the us reuters citing sources familiar with the matter reported the listing could happen before the end of the year founded in 2012 by chris xu the brand rose to global prominence for its budgetfriendly and trendy apparel shein was recently valued at 64 billion according to reuters but shein as well as pinduoduos budget ecommerce app temu have been accused of exploiting trade loopholes to import goods into the us without paying duties or making shipments subject to human rights reviews according to a report from a us house committee shein told cnbc last week its policy is to comply with the customs and import laws of the countries in which we operate and that it will continue to make import compliance a priority reuters noted the listing could make shein the most valuable chinese company to go public in the us since didi global in 2021 the ridehailing giant listed on the new york stock exchange at a 68 billion valuation but delisted less than 6 months later due to pressure and data security concerns from chinese regulators