The Strategist

Retailer Shein faces more than 90 lawsuits in the US over copyright infringements



02/05/2024 - 02:23



The Financial Times reports that Asian online apparel company Shein, which is getting ready to go public on the US stock market, has been charged with many copyright violations.



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At least ninety-three designers and businesses have sued Shein in US courts since 2018. Thirty additional cases have been filed in 2023 alone.

Hennes & Mauritz (H&M), a multinational retail conglomerate, and Fast Retailing, the owner of the Uniqlo brand, have brought legal action against Shein in Hong Kong and Japan, respectively.

Shein, founded in China in 2008, is presently headquartered in Singapore. The business's 2022 valuation of $100 billion exceeded the combined market values of Inditex, the corporation that owns the Zara retail chain, and H&M.

Shein has filed for an IPO in the US in November 2023 and anticipates a $80-90 billion valuation.

The company, which sells clothing at extremely low costs, has come under fire on several occasions for having suppliers that imitate the designs of other companies' products.

At that, Shein claims it "continually invests in improving the verification process" and "takes all allegations of copyright infringement very seriously."

source: ft.com




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