Chinese fashion giant Shein faces EU custom duties blow ahead of potential £50bn London listing By Daily Mail City & Finance Reporter Updated: 17:02 EDT, 3 July 2024 e-mail 1 View comments Questions: Shein ’s practices are being scrutinised ahead of a potential £50bn London stock market listing Shein may be whacked with custom duties by the European Union. The Chinese fashion giant’s practices are being scrutinised ahead of a potential £50billion London stock market listing. Under EU rules, overseas retailers do not pay duties on sending parcels under £127 (€150).
But regulators say the volume is testing customs’ limits and plan to tweak rules. Last year, 2.3bn goods below the €127 were set to the EU.
Based in Singapore, Shein relies on suppliers in China to make its cut-price clothes and has faced criticism over its treatment of staff. Shein said: ‘Shein is investing millions in strengthening governance and compliance across our supply chain.’ RELATED ARTICLES Previous 1 Next Invoke the Security & Investment Act to stop this terrible.
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