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As Shein heads towards IPO, its Chinese billionaire founder stays under cloak of secrecy
- Even by the standards of Chinese tech business leaders, the lack of public information about Xu Yangtian is unusual
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Wency Chenin Shanghai
Xu Yangtian, the founder of Chinese-originated fast-fashion shopping app Shein, has deliberately kept himself from the public eye for fear of attracting unwanted attention, sources say, as the company seeks an initial public offering (IPO) in London that values the company at £50 billion (US$64 billion).
While it has become a trend in recent years for tech entrepreneurs in China to keep a low profile, the lengths that the Shein CEO – also known as Sky Xu or Chris Xu – has taken to avoid personal publicity stand out among his peers.
The company has never published any photos of him. Neither has he made any public speeches throughout his career, even as Shein became an increasingly familiar e-commerce brand around the world. Shein has not released any IPO prospectus or details about its business operations.
According to multiple people who worked with Xu, the Chinese billionaire has decided to stay away from the limelight because of his personality and the belief that any attention drawn to him could only add to the scrutiny faced by Shein.
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