Latest news with #FastFashion
Yahoo
8 hours ago
- Business
- Yahoo
Shein reportedly plans confidential Hong Kong IPO filing this week
-- Fast-fashion retailer Shein is planning to file a draft prospectus confidentially for its Hong Kong listing as soon as this week, according to a Reuters report on Friday. The China-founded company aims to submit the confidential filing by Monday, the report added. This approach marks a rare departure from the standard practice in Hong Kong, where companies typically make public filings of IPO documents. If approved, Shein's confidential filing would represent a waiver of one of the main listing rules by the Hong Kong exchange. The company is one of the world's most closely-watched IPO candidates and could potentially be the largest listing in Hong Kong this year. Confidential filings provide companies with the advantage of keeping important operational and financial information private for a longer period. This process also allows them to undergo regulatory review without public disclosure. Under Hong Kong's listing rules, confidential filings are normally permitted only for secondary listings by companies that are already listed on recognized overseas exchanges such as the New York Stock Exchange or Nasdaq. Related articles Shein reportedly plans confidential Hong Kong IPO filing this week Microsoft and Nvidia lead the charge toward $4 trillion market cap: Wedbush TotalEnergies acquires 25% stake in Block 53 offshore Suriname from Spain's Moeve
Zawya
9 hours ago
- Business
- Zawya
China fashion retailer Shein to file confidentially for Hong Kong IPO in rare move, sources say
China-founded fast-fashion retailer Shein plans to file a draft prospectus confidentially for its Hong Kong listing, marking a rare departure from the usual practice of companies making public filings of IPO documents, three sources with knowledge of the matter said. Shein aims to submit the filing confidentially as soon as this week, one of the sources said. A second source said the filing was expected to be made by Monday. Shein's confidential filing, if approved, would represent a waiver of one of the main listing rules by the Hong Kong exchange for one of the world's most closely-watched IPO candidates, and possibly the largest in the city this year, two of the sources said. The filing will come as the company, which sells low-priced apparel such as $5 dresses and $10 jeans in around 150 countries, makes its third attempt to go public, more than 18 months after it first filed for a U.S. IPO in late 2023. Confidential filings enable companies to keep vital operational and financial information under wraps for longer and allow them to go through the regulatory review process without public disclosure. Hong Kong's listing rules permit confidential filings for secondary listings by companies already listed on recognised overseas exchanges, such as the New York Stock Exchange or Nasdaq. The exchange could also waive or modify the publication requirements in a spinoff from an overseas listed parent upon application by a new applicant, the listing rules show. While this practice is common for IPO applicants in the U.S., it remains relatively rare in Hong Kong, where high-profile IPOs have included Chinese tech giants Xiaomi and Meituan, which both filed publicly for their floats. The sources spoke to Reuters on the condition of anonymity as they were not authorised to speak to the media. Shein, founded by China-born entrepreneur Sky Xu, did not reply to a request for comment. The Hong Kong stock exchange declined to comment on individual companies. Documents, including financials, related to Shein's IPO will remain undisclosed until the company passes a hearing with the Hong Kong stock exchange, which is the final step in the city's regulatory approval process. Prior to that final step, Shein must secure an approval from the China Securities Regulatory Commission (CSRC) to go ahead with the Hong Kong IPO. It is not known if Shein has already secured a verbal nod from the Chinese securities regulator. The CSRC did not respond to Reuters request for comment. Reuters first reported last month, citing sources, that Shein was working towards a listing in Hong Kong after its proposed London IPO failed to secure the green light from Chinese regulators. The New York attempt also did not receive CSRC approval, Reuters previously reported. REGULATORY APPROVAL Shein's confidential submission of the prospectus enables Hong Kong and mainland Chinese regulators to assess the IPO application, raise their questions to Shein and prepare it for regulatory approval privately, the sources said. The regulators would be able to do that before public, including potential institutional investors', scrutiny of its application materials, including risk factors, they added. The filing would come against the backdrop of Shein grappling with the knock-on impacts of the Sino-U.S. trade war after U.S. President Donald Trump ended duty-free treatment of ecommerce parcels and hiked tariffs on Chinese goods, hurting its business in the U.S., its biggest market. Shein was valued at $66 billion during its pre-IPO fundraising round in 2023, down by a third from a funding round one year earlier. Its eventual IPO valuation will hinge on the impact of the tariff changes, sources have said. RISK DISCLOSURES A Shein listing would help Hong Kong, which saw $12.8 billion worth of IPOs and second listings in the first half, re-establish its credibility as a global fundraising centre at a time of major volatility stoked by U.S. trade policy changes. Shein, founded in mainland China in 2012, is hoping to succeed in Hong Kong after failed attempts to list in New York and then London, where Britain's financial regulator approved the listing. Shein will have to file with the CSRC within three working days after submitting its IPO application in Hong Kong, in line with Beijing's rules for Chinese firms seeking offshore listings. Shein shifted headquarters from China to Singapore in 2022 and does not own or operate any factories, but remains subject to Chinese IPO rules because its products are mostly made by a network of 7,000 third-party suppliers in China, sources have said. The CSRC applies the rules on a "substance over form" basis, granting it discretion on when and how to implement them. A draft prospectus would normally disclose key risks to a company including those linked to its supply chain. Shein has faced allegations from politicians and campaigners that its supply chain in China is linked to forced labour of Uyghur minorities in Xinjiang, a highly contentious issue for Beijing, which denies any abuses in the cotton-producing province. The U.S. has a ban in place on imports of products made using forced labour from Xinjiang, and Shein has said it does not allow its suppliers to use Chinese cotton in U.S.-bound products. Shein has said its supplier code of conduct prohibiting forced labour applies worldwide.
Reuters
11 hours ago
- Business
- Reuters
Exclusive: China fashion retailer Shein to file confidentially for Hong Kong IPO in rare move, sources say
June 27 (Reuters) - China-founded fast-fashion retailer Shein plans to file a draft prospectus confidentially for its Hong Kong listing, marking a rare departure from the usual practice of companies making public filings of IPO documents, three sources with knowledge of the matter said. Shein aims to submit the filing confidentially as soon as this week, one of the sources said. A second source said the filing was expected to be made by Monday. Shein's confidential filing, if approved, would represent a waiver of one of the main listing rules by the Hong Kong exchange for one of the world's most closely-watched IPO candidates, and possibly the largest in the city this year, two of the sources said. The filing will come as the company, which sells low-priced apparel such as $5 dresses and $10 jeans in around 150 countries, makes its third attempt to go public, more than 18 months after it first filed for a U.S. IPO in late 2023. Confidential filings enable companies to keep vital operational and financial information under wraps for longer and allow them to go through the regulatory review process without public disclosure. Hong Kong's listing rules permit confidential filings for secondary listings by companies already listed on recognised overseas exchanges, such as the New York Stock Exchange or Nasdaq. The exchange could also waive or modify the publication requirements in a spinoff from an overseas listed parent upon application by a new applicant, the listing rules show. While this practice is common for IPO applicants in the U.S., it remains relatively rare in Hong Kong, where high-profile IPOs have included Chinese tech giants Xiaomi ( opens new tab and Meituan ( opens new tab, which both filed publicly for their floats. The sources spoke to Reuters on the condition of anonymity as they were not authorised to speak to the media. Shein, founded by China-born entrepreneur Sky Xu, did not reply to a request for comment. The Hong Kong stock exchange declined to comment on individual companies. Documents, including financials, related to Shein's IPO will remain undisclosed until the company passes a hearing with the Hong Kong stock exchange, which is the final step in the city's regulatory approval process. Prior to that final step, Shein must secure an approval from the China Securities Regulatory Commission (CSRC) to go ahead with the Hong Kong IPO. It is not known if Shein has already secured a verbal nod from the Chinese securities regulator. The CSRC did not respond to Reuters request for comment. Reuters first reported last month, citing sources, that Shein was working towards a listing in Hong Kong after its proposed London IPO failed to secure the green light from Chinese regulators. The New York attempt also did not receive CSRC approval, Reuters previously reported. Shein's confidential submission of the prospectus enables Hong Kong and mainland Chinese regulators to assess the IPO application, raise their questions to Shein and prepare it for regulatory approval privately, the sources said. The regulators would be able to do that before public, including potential institutional investors', scrutiny of its application materials, including risk factors, they added. The filing would come against the backdrop of Shein grappling with the knock-on impacts of the Sino-U.S. trade war after U.S. President Donald Trump ended duty-free treatment of ecommerce parcels and hiked tariffs on Chinese goods, hurting its business in the U.S., its biggest market. Shein was valued at $66 billion during its pre-IPO fundraising round in 2023, down by a third from a funding round one year earlier. Its eventual IPO valuation will hinge on the impact of the tariff changes, sources have said. A Shein listing would help Hong Kong, which saw $12.8 billion worth of IPOs and second listings in the first half, re-establish its credibility as a global fundraising centre at a time of major volatility stoked by U.S. trade policy changes. Shein, founded in mainland China in 2012, is hoping to succeed in Hong Kong after failed attempts to list in New York and then London, where Britain's financial regulator approved the listing. Shein will have to file with the CSRC within three working days after submitting its IPO application in Hong Kong, in line with Beijing's rules for Chinese firms seeking offshore listings. Shein shifted headquarters from China to Singapore in 2022 and does not own or operate any factories, but remains subject to Chinese IPO rules because its products are mostly made by a network of 7,000 third-party suppliers in China, sources have said. The CSRC applies the rules on a "substance over form" basis, granting it discretion on when and how to implement them. A draft prospectus would normally disclose key risks to a company including those linked to its supply chain. Shein has faced allegations from politicians and campaigners that its supply chain in China is linked to forced labour of Uyghur minorities in Xinjiang, a highly contentious issue for Beijing, which denies any abuses in the cotton-producing province. The U.S. has a ban in place on imports of products made using forced labour from Xinjiang, and Shein has said it does not allow its suppliers to use Chinese cotton in U.S.-bound products. Shein has said its supplier code of conduct prohibiting forced labour applies worldwide.
Yahoo
2 days ago
- Business
- Yahoo
Shein Reportedly Making Plans With Reliance to Export India-Made Goods
Shein may be using a partnership to bring goods made in India to its global consumers. According to a Reuters report citing two sources familiar with the matter, Shein and partner Reliance Industries are planning to ramp up the number of Indian suppliers they use in an effort to ship products into other markets. More from Sourcing Journal New Joint Venture Plans to Boost India's Denim Production EXCLUSIVE: Can Gap's AI Water Bet Fix a Leaky Supply Chain System? EXCLUSIVE: Arvind, Fashion for Good's 'Near-Carbon-Neutral' Factory Initiative Seeks to Break Industry Paralysis Today, Shein and Reliance have Indian suppliers, which they use to serve the Indian market. Most of what the fast-fashion purveyor serves to consumers in the United States, European Union and United Kingdom comes from Chinese factories. That setup is due to the fact that, in 2020, India banned Shein for five years as part of a larger crack-down on China-founded companies, though Shein is currently headquartered in Singapore. The company returned to the country earlier this year, using a partnership with Reliance. In effect, Reliance controls the consumer data—stored in India—and the operations of Shein's India presence. The idea is that Shein is merely a technology partner in the partnership. According to Reuters, Shein and Reliance currently contract with 150 Indian suppliers, but within the next six to 12 months, the companies are aiming to up that number to 1,000. Once those factories are operational, the goal is that they would create apparel to be exported to Shein's other markets, Reuters wrote. Reuters reported that strategy would see Shein listing India-made products on Shein's U.S. and UK sites; the publication's sources indicated that this recruitment began even before the U.S.'s de minimis provision on goods inbound from China collapsed, changing Shein's easy-access, low-cost model to U.S. consumers. Shein did not immediately return Sourcing Journal's request for comment, but Reuters reported that the company indicated the partnership only entailed licensing Shein's brand to Reliance Retail for domestic use in India. And late last year, India's MInister of Commerce and Industry, Piyush Goyal, said the partnership could enable Shein-branded apparel to be sold 'domestically and globally.' The timing for the uptick in Indian suppliers could help the fast-fashion player benefit. For the moment, de minimis has only collapsed for good inbound from China; if Shein is able to list Indian-made products on its site, it could, at least temporarily, use de minimis to send some of its U.S.-bound parcels directly to consumers from India duty free. It remains to be seen whether, or how soon, President Donald Trump's tariff and duties strategies will extend a de minimis ban to goods inbound from countries other than China. Even if de minimis entry soon dissipates on goods inbound from countries across the globe, goods coming from India may see lower duty rates than products coming from other countries once the Trump administration sorts out tariff rates this summer. On the president's 'Liberation Day,' India saw the threat of 26-percent tariffs, markedly lower than other sourcing strongholds like China, Vietnam and Bangladesh. Although the vast majority of its goods are made in China, Shein has also inked deals with suppliers in Brazil and Turkey, each of which saw a 10-percent tariff threat in April. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
18-06-2025
- Lifestyle
- Forbes
Your Ultimate Guide To A Stylish, Tech Smart, And Sustainable Summer
Summer Fashion in organic fashion brand Reistor Reistor Contributed Photo Summer will officially kick off on June 20 and whether you are ready or not, it will be here for 93 glorious days. For many of us, summer is a time to unwind, enjoy warm weather, eat well, bask in good company, and maybe even get lost in a new city or beach town. The question is how do we elevate that experience without leaving a trail of plastic, fast fashion, and emissions behind? This article will show you how to keep your summer fun and fresh while staying kind to the planet. From what you wear to how you cool off and stay connected, here are the top eco-essential swaps you can make this season: Hemp Short Dress with Back Embroidered Lace Detail Reistor The fashion industry contributes to roughly 10% of global carbon emissions and is responsible for 20% of global wastewater, according to Coupled with that, fast fashion's allure often fades with the season, but its impact lingers for decades. ethical fashion options that prioritize the planet and people. For this summer opt for natural fibers like linen, hemp, and organic cotton, which are more breathable and less taxing on the environment than synthetics like polyester which sheds microplastics when washed. Before buying anything new, start by shopping your own closet. You might be surprised by what you already have that can be reimagined, restyled, or repaired. If you still need something fresh, thrifting is the next best move as it extends the life of garments and keeps clothing out of landfills. REISTOR is an India-based label which produces minimal, comfortable clothing using organic fabrics and AZO-free dyes, meaning their fabrics are colored without the use of harmful synthetic chemicals that can release carcinogenic amines when broken down, especially under sweat or UV exposure. These dyes are banned in several countries due to their potential health and environmental risks. REISTOR partners with organizations that support women's employment and empowerment. Their breathable cotton dresses and linen tops are perfect for staying stylish in the heat while reducing your environmental footprint. Additionally the Pact brand which creates everyday essentials from organic cotton with water-saving techniques. is another option with its Certified Fair Trade and Global Organic Textile Standard. Cooling off with a desk fan getty As global temperatures rise, so do energy bills and carbon emissions from cooling systems. According to a 2024 Our World in Data report, air conditioning accounts for nearly 3% of global greenhouse gas emissions. There are alternative methods to beat the heat and keep cool without overloading the grid. Invest in a good fan instead of blasting the AC or a personal favorite is using the AC on timer while the fan circulates the cool air. Next, you have to block out the heat by using thermal blackout curtains or bamboo shades to reduce indoor heat gain. Heat-blocking shades reduce indoor temperatures by limiting the amount of sunlight and heat that enters a room, easing the load on air conditioning systems. They also offer added benefits like UV protection, improved light control, and increased indoor comfort. Additionally, while you are outdoors, you can benefit from handheld fans, neck fans or even portable solar fans to keep cool. While outdoors, you can reach for a wide-brimmed hat made of raffia or organic cotton, and layer up with UPF-rated clothing for extra sun protection. For context, a UPF 50 garment blocks 98% of harmful UV rays, allowing only 1/50th to reach your skin. Tech is an essential part of our lives and you do not have to ditch tech to live sustainably, you just have to choose wisely. When used correctly, tech can actually help reduce waste and energy. Here are a few gadgets that can help you in these 93 summer days and beyond. Solar-powered gadgets are a smart way to enjoy your summer without relying on the grid. You have options to stream music through the Reveal Solar Speaker or charging your phone with solar charges like the the Anker 21W PowerPort. The beauty of it is that solar tech allows you to stay connected while reducing your carbon footprint. Smart plugs and energy monitors, such as the TP-Link Kasa Smart Plug, help you manage your electricity usage by tracking and scheduling appliances. These actively reduce phantom power draw which is the energy consumed by electronics even when they are turned off. Typically, residential energy use accounts for about 20% of greenhouse gas emissions and any small tweaks in how we use tech can make a measurable difference. Summer is what you make it, and this year, you can make it count for both your joy and the sustainability of the planet. Whether you are trying to put together a summer wardrobe, staying cool with low-impact habits, or choosing gadgets that give more than they take, your decision to choose sustainable brands matter. So as the sun rises on these 93 days, choose what lasts, what aligns, and what truly reflect a sustainable summer.
