Drew Bernstein, co-founder and co-chair, Marcum Asia is quoted on CNBC.com regarding Shein’s business model.
China launches a security review of Shein. Here’s what it means for its IPO
By Gabrielle Fonrouge and Deirdre Bosa
If Shein wasn’t a Chinese company, the retailer wouldn’t necessarily need Beijing’s permission to go public, said Drew Bernstein, the co-chairman of Marcum Asia and an expert in U.S. and Asian capital markets.
“By having zero exposure to Chinese consumers, they’re not likely to be viewed as a security sensitive company,” said Bernstein. “I think that [Shein] anticipated this and is well prepared.”