Shein , the Chinese-origin fast-fashion behemoth, is poised to announce its intention for a London stock market debut, potentially this week, with an estimated valuation of £50 billion ($64 billion). Insiders suggest that the company might disclose its initial public offering (IPO) plans for the British capital soon. China’s Shein is an online marketplace with no physical stores.
Shein’s rapid expansion in the online marketplace is said to have put pressure on major retailers like Zara owner Inditex and Sweden’s H&M in Europe and parts of Asia. Shein is also the same Chinese e-tailer that has been a major worry for Amazon and other clothing and accessories retail giants in the US. Unlisted Shein is the world's biggest fast-fashion retailer with an estimated 18% market share, according to Coresight Research.
This may be changing now with the London IPO. The proposed UK filing is said to be a confidential IPO, granting Shein greater discretion and the option to withhold strategic details before going public. However, finalizing the London IPO could span several months.
Shein’s consideration of London follows resistance to a New York listing, amidst heightened US-China trade tensions. Reports from the Financial Times indicate that Shein’s plans could be submitted to UK authorities shortly. These revelations are reported to follow discussions between UK finance minister Jeremy Hunt and Shein’s executive chairman Donald Tang about a potential London IPO, as reported b.