Fast fashion titan Shein has confirmed its plans to float on the stock market, and hasn’t ruled out listing in London.
Chief executive Donald Tang told The Times that the firm wanted to go public to increase “accountability and transparency”.
The brand had not previously confirmed a timeline for an IPO. Yet, reports suggest the company filed paperwork with the Financial Conduct Authority (FCA) last summer after facing various challenges with a US listing.
Tang refused to comment on specific timing or valuation, but added that the company would list “whenever it’s appropriate”.
Originally founded in 2012 in China and now based in Singapore, Shein has faced ongoing scrutiny over its environmental impact and labour practices.
Tang rejected these reproaches, arguing instead that his brand “democratises” fashion.
He added that it complies with local laws and that its low inventory levels reduce waste.
The UK is one of Shein’s top five markets, and Tang hailed British regulators for their ability to separate regulation from politics.
The firm has also become part of the Confederation of British Industry (CBI) along with companies like Shell and AstraZeneca as it seeks to strengthen its UK presence.
Shein’s potential London listing comes as the UK struggles to attract major IPOs.
Various companies have snubbed the London Stock Exchange for New York in recent years, with firms like Flutter or Arm opting for US listings.
A Shein float would offer a major boost to London’s financial sector.
The fast fashion brand was valued at $66bn (£51.05bn) in 2023, and has faced growing competition from companies like Temu.
The rival firm initially aimed for a 2024 IPO in New York, yet also switched to London after failing to gain US regulatory approval.
It was recently reported that its net profit fell nearly 40 per cent in 2024, yet Tang denied this speculation, reporting that growth has remained strong.
US policy may also have an effect on Shein’s plans.
Donald Trump has proposed new restrictions on tariff-free imports from China, which would hit Shein’s biggest market.
However, Tang said: “We have a superior business model. We are about customers. We’re not about customs policy”.