Shein, the mega online retailer trying to rehab its image since it’s been in the crosshairs of U.S. legislators and retail competitors, has some surprising news: it wants U.S. regulations changed so it pays more tariffs.
U.S. lawmakers claim this regulation gives Shein, and other foreign manufacturers, an unfair advantage over U.S. retailers whose overseas shipments are subject to tariffs that can add between 8.5 percent to 67.2 percent to a garment’s price. Becoming a publicly traded company would help the company grow from capital raised during a stock offering. The idea has been in the works since last year when Sheinto be traded on the New York Stock Exchange, but there have been hurdles. Lawmakers have been calling on the U.S. Securities and Exchange Commission to do a deep dive into the online retailer’s operations.
That deal led to an agreement last October with Authentic Brands for Shein to design, manufacture and distribute a line of apparel and accessories that includes sportswear, activewear and swimwear, among other categories. The collection will have a co-branded label and be sold on Shein’s sites in the U.S. as well as Europe and Australia. Shein has been operating
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