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Reuters
18-02-2025
- Business
- Reuters
Exclusive: Shein executive seeks to reassure investors after Trump crackdown on low-value imports
LONDON, Feb 17 (Reuters) - Fast-fashion retailer Shein's executive chairman Donald Tang told investors in a letter on Monday that "growth remains strong" despite the United States ending duty-free treatment of low-value ecommerce packages from China and hiking tariffs. Shein is working towards an initial public offering in London, but U.S. President Donald Trump's decision to end the "de minimis" duty-free provision for imports from China worth less than $800 triggered concerns about its business model, with some analysts saying Shein and rival (PDD.O), opens new tab PDD Holdings-owned Temu would have to raise prices. The letter, seen by Reuters, seemed aimed at reassuring investors that Shein, known for $10 dresses and $15 sneakers, will maintain its edge in a fiercely competitive environment for discount apparel in the U.S., its biggest market. "As I am writing this note to you, despite the recent challenges, our growth remains strong, driven by our ability to offer a diverse selection of fashion and lifestyle products at consistently affordable prices," Tang wrote. Shein is investing in "supply chain advancements to boost efficiency and responsiveness", as well as better logistics "to ensure faster, more reliable deliveries", he said in the letter. Shein did not immediately reply to a request for comment. The letter gave no growth figures or financial information. Shein investors include Sequoia Capital, General Atlantic, Declaration Partners, Brookfield, and Claure Group, according to PitchBook. The investors couldn't be immediately reached for comment. Reuters reported earlier this month, citing three sources with knowledge of the matter, that Shein is set to cut its valuation in its London IPO to around $50 billion. The end of de minimis, a rule that had allowed American shoppers to avoid paying customs on most Shein purchases, was widely expected. But Trump's executive order gave barely three days' notice for the complex international supply chains to adapt, causing delays to customers' orders as packages piled up at airports. Trump ended up reinstating the duty-free provision temporarily, and put the Commerce Department in charge of figuring out how to make the shift workable. It is not clear how long that will take. In his letter, Tang said he supports de minimis reform, a stance he first made public in July 2023. "I have long advocated for de minimis reform that prioritizes American consumers—because at SHEIN, our focus is on customers, not customs policy," he wrote.
Reuters
05-02-2025
- Business
- Reuters
ＥＵ、Ｔｅｍｕ・ＳＨＥＩＮに販売責任 安価で危険な輸入品規制
[ブリュッセル ５日 ロイター] - 欧州委員会は５日、中国ＰＤＤホールディングス (PDD.O), opens new tab の格安通販サイト「Ｔｅｍｕ（テム）」と中国系衣料通販大手「ＳＨＥＩＮ（シーイン）」について、安全でない危険な商品を欧州連合（ＥＵ）の消費者に自社のプラットフォームで販売した場合には責任を負うことになると発表した。電子商取引（ＥＣ）を通じたＥＵへの安価な輸入品の大量流入を規制する一環という。 欧州委はまた、シーインがＥＵの消費者保護規則を侵害しているとの疑いに基づき、各国の消費者当局で構成される消費者保護協力（ＣＰＣ）ネットワークが共同で調査を行うよう調整すると発表した。 欧州委は、安価な輸入品は規則に従うＥＵの販売業者に不公正な競争を強いる一方、貨物の大量発送は環境や気候に悪影響を及ぼすと指摘した。 シーインは、消費者機関および欧州委と協力していくと表明した。 テムからのコメントは得られていない。 関連トピック 企業・産業 Foo Yun Chee トムソン・ロイター An agenda-setting and market-moving journalist, Foo Yun Chee is a 21-year veteran at Reuters. Her stories on high profile mergers have pushed up the European telecoms index, lifted companies' shares and helped investors decide on their next move. Her knowledge and experience of European antitrust laws and developments helped her break stories on Microsoft, Google, Amazon, Meta and Apple, numerous market-moving mergers and antitrust investigations. She has previously reported on Greek politics and companies, when Greece's entry into the eurozone meant it punched above its weight on the international stage, as well as on Dutch corporate giants and the quirks of Dutch society and culture that never fail to charm readers.
