Mysterious Figure Behind Chinese E-Commerce Giant Shein Draws Scrutiny

Sky Xu, also known as Xu Yangtian, is somewhat different from most founders of major global companies. The founder of the e-commerce giant Shein has never appeared in public and lacks any digital footprint. He founded Shein in 2012, and fourteen years later, even the prospect of an initial public offering (IPO) valued at US$50 billion has not tempted him to step into the spotlight. According to Reuters, Xu delegates extensively, including hiring former banker and media executive Donald Tang to manage the IPO attempt in New York, United States. Tang was appointed as a senior advisor and executive chairman to handle relations with politicians and investors. Reuters also reported that Shein has repeatedly declined requests to interview Xu, and questions regarding the CEO and founder were not addressed. Despite pledging to increase its transparency, Shein does not feature Xu on its official website, providing no information about the company’s owner or leader. One known detail is that Xu was born in Zibo, Shandong, in 1984, with some Chinese media reports stating his mother was a garment factory worker. An industry source who knows Xu described him as patient, humble, and pragmatic, noting his attention to detail and involvement in Shein’s daily operations. Regarding the IPO, Xu is reportedly hesitant, believing the company should not rely on external funding to compete. Xu is not entirely hidden; he once appeared to deliver a speech on Shein’s supply chain investment at a High-Quality Development Conference in February. Meanwhile, Xu’s reclusive nature and the scarcity of information about him have raised concerns among politicians in the US and the UK regarding Shein’s IPO. However, a second source close to Xu supports this strategy, as it could minimise the risk of a crackdown by the Chinese government, similar to the one that targeted Alibaba founder Jack Ma and derailed Ant Group’s US$37 billion IPO.