In recent years, the fast-fashion company has won over tens of millions of customers with its cheap, on-trend clothing, including jeans and skirts as cheap as $10.Shein’s rise in popularity can also be credited to the#Sheinhaul videos on TikTok. The brand’s shoppers mostly include Gen Z and millennial womenwho are reportedly willing to dish out as much as $100 per month on clothing. Some love the company for its affordability.Others accuse it of everything from design theft to harming the environment tousing forced labor.Shein attempted to restore its public image by inviting influencers to check out one of its factories in China. Now, it’s getting ready to hit the IPO circuit.
Why now?
It’s worth asking. Companies have steered clear of the IPO process in recent years, with many turned off by rising interest rates. Shein’s got cold feet before, too. But now, it’s ready to go against the trend, aiming for a public listing in the US next year. First: the company faces scrutiny from the US Securities and Exchange Commission — and Congress. Shein knows Congress is suspicious of its ties to China and moved to Singapore. Meanwhile, 16 attorneys general this year asked the SEC to make sure Shein isn’t using forced labor.
theSkimm
Shein’s valuation last year reached $100 billion — surpassing Zara and H&M combined. Earlier this year, that valuation was at $66 billion. In either case, if Shein is cleared to go public it could be one of the biggest IPOs in years — at a time when most other companies are steering clear.
Israel and Gaza. Qatari officials say Israel and Hamas agreed to extend their truce until at least tomorrow. Yesterday, Hamas released 11 hostages, including 3-year-old twins. In exchange, Israel released 33 Palestinian prisoners, including three women. The news came as Elon Musk traveled to Israel after coming under fire for endorsing an antisemiticconspiracy theory on X. Musk toured a town attacked by Hamas on October 7th, held a conversation with Israel’s prime minister, and discussed the potential deployment of Starlink over Israel and Gaza. The visit came as advertisers have pulled their ads from the social media platform, potentially costing the company up to $75 million.
Whose trial is just getting started…
Young Thug’s.Yesterday, the Grammy-winning rapper's trial forracketeering got underway. Born Jeffery Williams, he’s being accused of co-founding a violent street gangin Atlanta. Last year, Williams was arrestedand charged with eight counts, including conspiring to break a federal law intended to combat organized crime.Prosecutors say that his record label, YSL, is actually a front for a gang connected to the national Bloods gang. They're also using his lyrics as evidence of the gang’s existence. Some co-defendants have already taken plea deals. Williams has pleaded not guilty to all charges.
Who’s napping more…
Children. A recent study found that the use of melatonin for American children under the age of 14 is "exceedingly common.” About one in five children are given melatonin — a hormone produced in the brain that controls a person's sleep cycle — by parents to help them sleep. Earlier this year, the American Academy of Sleep Medicine issued a health advisory to parents against giving the supplement to children and encouraged them to seek out a doctor before doing so.
Who’s on sick leave this week…
Stephen Colbert.Yesterday,the host of “The Late Show” announced he’s taking aweek-long break from his show afterrecoveringfrom a ruptured appendix. In a statement on Threads, Colbert joked, “Going forward, all emails to my appendix will be handled by my pancreas.”
With Black Friday and Cyber Monday in the rearview, the holiday season is well underway. And we know justtttt what’ll get you in the spirit: a trip to Brookfield Place in Lower Manhattan. It’s home to NYC’s only waterfront ice rink, the famous Luminaries light show, and now *drumroll please* Winter Wanderland, a collection of interactive holiday photo moments created by us, for you. Come strike a pose in our life-size snow globe, ascend our gift throne, brave our arctic tunnel, and share a punny holiday message with your friends and fam. Love surprises and sweet treats? Then stop by between 4 pm and 6 pm Monday, December 11 through Sunday, December 17.
Psst…Brookfield Place connects to Fulton Center underground, where you can catch nine different subway lines and the NJ Path. It’s also next to the Battery Park City ferry terminal. Translation: It's easy to get to and you don’t have to brave the cold. See you there.
Prepping for the most wonderful time of year can be stressful, especially for your finances. But we’ve got a way to make every one of your gifting dollars go further: credit card rewards and cash back.
Better yet: Chase Ultimate Rewards. They can help you cover your holiday costs no matter how you shop. Get exclusive pay-with-points deals, pay yourself back for recent purchases, or convert your points to cash back. Consider your budget extended.
Skimm Picks
Here are today’s recs to help you live a smarter life…
1. A patented, derm-approved retinoid serum.
This award-winning formula works 11x faster than retinol to visibly reduce wrinkles and fine lines. It also comes in five strengths to meet all skin needs. Plus Skimm’rs get 30% off for Black Friday. Next stop: Brighter, firmer, smoother skin.*
2. How to make mental health a priority without leaving home.
This service helps you meet your therapy match from the comfort of…basically anywhere. So you can talk to someone wherever the holiday season takes you. Plus, Skimm’rs get 25% off their first month.*
With Apple Card, you get up to 3% unlimited Daily Cash back on every purchase, every day. That’s real cash (not points) for every gift, flight, decoration, and outfit you buy. Plus there isn’t a single fee.†
4. A must-watch guide to mastering the holidays in style.
Don’t miss out on our tips, tricks, and outfit essentials for everything the season might throw at you. All thanks to our friends at Athleta. Consider your to-do list done (and checked twice).*
Psst…love our recs? Follow @skimmshopping on Instagram for more products, gifts, and services that are actually worth the hype (and the price tag).
Skimm'rs
We like to celebrate the wins, big and small. Let us know how your friends, neighbors, coworkers (and yes, even you) are making career moves, checking off goals, or making an impact in the community.
Putting the 'giving' in Giving Tuesday…Kate K (TX). She's withEvery.org, a charity built to help nonprofits raise money. Their gift card allows for the perfect last minute holiday gift: the recipient can use the funds to donate to one of a million vetted charities.
(Some) Birthdays…theSkimm's Catherine Cunningham (NY), Jessica Gowen (KY), Donna Levin (LA), Anthony Fischetti (NY), Alexandra Early (VA), Tricia Potts (IL), Emily Anne Pride (KY), Ally O'Connell (DC), Catherine Kelly (NC), Melissa Temple (BELG), Melissa Banning (OH), Sydney Fraser (NJ), Xandra Seidner (GA), Nina Rodriguez (CA), Jessica Gowen (KY)
PS: Paging all members of theSkimm. Reach out here for a chance to be featured.
Skimm'd by: Anacaona Rodriguez Martinez, Chantal Vaca, and Julie Shain
Photos Allen J. Schaben / Los Angeles Times by Getty Images, Brand Partners
