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The Nanjing-based fast fashion retailer Shein, founded in 2008, quietly grew to report revenues of USD4.6 billion by selling to customers outside of China by 2019 which was equivalent to 14% sales of Zara. Targeting Gen Z shoppers, the privately held Shein shipped merchandise to 220 countries, with websites for the US, Europe, the Middle East, and Australia in real-time. However, Shein faced risks related to labour conditions and waste impacting the environment, more specifically, with its digital business model. Nevertheless, in 2022, Shein generated about USD23 billion in global revenue, with sales almost entirely online accounting for one-fifth of the global fast-fashion market outpacing the revenues of Zara and H&M. To mitigate the risks, Shein acquired Misguided brand and partnered with brands like Forever 21, Paul Smith and luxury footwear maker Stuart Weitzman, and planned to go public in 2024. Analysts debated whether Shein, as part of the IPO filing process, would disclose how its business and supply chain work reinforcing its growth story and making a positive impact on the investors' sentiments, and continue to gain market share going forward.