Shein will present the IPO in London, valuation of 64 billion

Shein will present the IPO in London, valuation of 64 billion

Shein, the online fashion giant founded in China, is set to submit a dossier to regulators in the coming days for a potential listing on the London stock exchange. The British media reported it. The listing, which Sky News said could value Shein at £50 billion ($64 billion), comes after the Singapore-based fast-fashion group faced opposition to a listing in New York due to tensions between the United States and China. According to the Financial Times and Sky, the presentation in the United Kingdom will take place in the form of an initial public offering (IPO) “confidential”, which allows companies greater flexibility and the possibility of not disclosing information on future strategy before listing.

Shein, founded as ZZKKO in 2008 in China and headquartered in Singapore, has quickly conquered the global fast fashion market by targeting young customers through social media. The company has been accused of exploiting unpaid labour, obscuring production processes and encouraging excessive consumption, as well as facing the wrath of environmental and human rights activists. The European Union recently added Shein to the list of digital companies large enough to be subjected to stricter security controls. L’company joins Facebook, TikTok, X, YouTube and others in a list of “very large online platforms” that have more than 45 million monthly active users in the EU.