Shein founder Sky Xu faces increased scrutiny as the fast-fashion giant targets a $40-50 billion Hong Kong IPO, down sharply from its $66 billion

The retailer won approval from China for its Hong Kong listing on July 10, clearing the way for a listing after failed attempts in New York and London.

Shein founder Sky Xu faces increased scrutiny as the fast-fashion giant targets a $40-50 billion Hong Kong IPO, down sharply from its $66 billion