Shein Confirms Plans To Pursue IPO
Despite all odds, Shein is not backing down. This past week, executive chairman Donald Tang, former vice chairman of Bear Stearns, flew to London to discuss securing investors to back its proposed IPO. Rumors originally circulated that the company aimed to list in either the United States or Canada, but it was immediately met with political backlash and regulatory difficulties. Tang's London trip marks the official step to move forward with listing in the U.K. instead. Tang, in a statement to the Times, explained: “In London, we want to be a British company. We want to be a British local company … we’re registered here, we’re paying taxes here, we want to be part of a community." The trip came mere weeks after investors advised Tang to cut the evaluation to $30 billion USD, a steep decrease from previous estimates. In 2022 and 2023, Shein was valued at $66 billion and $102 billion USD, respectively, marking a large growth in consumer's fast fashion habits. Many pieces on the site retail for as little as a few dollars. However, pending US tariffs could raise prices, alienating American customers and threatening that growth. Currently, President Trump is seeking to end the "de minimis" exemption, which prohibits tariffs on direct-to-consumer packages valued under $800 USD. Despite controversial manufacturing allegations and continued roadblocks, Tang remains confident that an IPO would help build public trust. No formal announcement has been made regarding U.K. approval as of yet. Stay tuned to Hypebeast for more updates.Click here to view full gallery at Hypebeast
Despite all odds, Shein is not backing down. This past week, executive chairman Donald Tang, former vice chairman of Bear Stearns, flew to London to discuss securing investors to back its proposed IPO.
Rumors originally circulated that the company aimed to list in either the United States or Canada, but it was immediately met with political backlash and regulatory difficulties. Tang's London trip marks the official step to move forward with listing in the U.K. instead. Tang, in a statement to the Times, explained: “In London, we want to be a British company. We want to be a British local company … we’re registered here, we’re paying taxes here, we want to be part of a community."
The trip came mere weeks after investors advised Tang to cut the evaluation to $30 billion USD, a steep decrease from previous estimates. In 2022 and 2023, Shein was valued at $66 billion and $102 billion USD, respectively, marking a large growth in consumer's fast fashion habits.
Many pieces on the site retail for as little as a few dollars. However, pending US tariffs could raise prices, alienating American customers and threatening that growth. Currently, President Trump is seeking to end the "de minimis" exemption, which prohibits tariffs on direct-to-consumer packages valued under $800 USD.
Despite controversial manufacturing allegations and continued roadblocks, Tang remains confident that an IPO would help build public trust. No formal announcement has been made regarding U.K. approval as of yet. Stay tuned to Hypebeast for more updates.
Click here to view full gallery at Hypebeast
