As it gears up for an initial public offering, fast fashion giant Shein is aiming to counter criticisms over environmental waste, intellectual property violations, and the retailer's links to China.

The online company is investing millions in initiatives to address the complaints and is positioning itself as a retail heavyweight with which rivals will need to contend.

Shein is one of the most downloaded shopping apps and is a favourite of Gen Z, selling clothes such as mesh dresses and two-piece swimsuits for less than $9.

The company recently hosted a day-long summit for designers and has launched an initiative to fund and hire artists to create clothing lines. Its "Shein X" scheme offers independent designers a budget, pays production costs and markets their wares on its site.