Latest news with #SheinGroup
Bloomberg
28-05-2025
- Business
- Bloomberg
London Looks Beyond the Fast Fashion IPO That Divided the City
By and Joe Easton Save With Shein Group Ltd. said to turn its attention to Hong Kong for its initial public offering, London's financial community is looking beyond the fast-fashion group as listing activity begins to break a years-long drought. Shein's IPO, which at one point was eyeing a valuation of as much as £50 billion, would have been the LSE's largest such listing in years, but it divided public opinion over risks associated with governance and a business model exposed to turbulent trade policies.
Bloomberg
28-05-2025
- Business
- Bloomberg
Shein Is Said to Weigh Hong Kong as IPO Venue Instead of London
Shein Group Ltd. is considering switching its planned initial public offering to Hong Kong instead of London, people familiar with the matter said. The Singapore-headquartered fast-fashion firm and its advisers have shifted focus because the approval process with Chinese regulators for its proposed London listing were dragging on, the people said, asking not to be identified because the deliberations are private.
Bloomberg
28-05-2025
- Business
- Bloomberg
Shein Plans Hong Kong IPO After UK Listing Stalled, Reuters Says
Shein Group Ltd is now working toward listing in Hong Kong after the fast-fashion company did not receive approval from Chinese regulators for a London listing, Reuters reported on Wednesday, citing three unidentified people familiar with the matter. The company plans to file a draft prospectus in Hong Kong in the coming weeks, one of the people told Reuters. Shein aims to go public within the year, two people told the news agency.
Bloomberg
23-05-2025
- Business
- Bloomberg
EU Set to Warn Shein in Escalation of Consumer Protection Probe
The European Union is set to issue a warning to online marketplace Shein Group Ltd. that will escalate the commission's consumer protection probe into the company, people familiar with the matter said. The Commission and European national watchdogs will outline detailed grievances against Singapore-based Shein and demand remedies in an escalation of a probe into the fast-fashion platform that may come as soon as next week, the people said, asking not to be identified because the plans are private. The people added that the EU move was still in draft form and could change before being made public, or face potential delays.
Business Times
15-05-2025
- Business
- Business Times
Shein lowers prices to lure back US shoppers after tariff cut
[NEW YORK] Shein Group lowered US retail prices this week after the Trump administration temporarily cut duties on Chinese imports, as the online fashion retailer moves to win back consumers scared away by recent tariff-induced price hikes. The average cost of 98 products consistently tracked by Bloomberg News on Shein's website was US$5.56 on Wednesday (May 14), down about 13 per cent from a May 7 peak of US$6.38. Shein also sent a price drop alert to US consumers on Wednesday touting lowered prices across a range of styles, and promising that shoppers would not be asked to pay any tariff-induced fees or additional costs at checkout. PDD Holdings-owned rival Temu adopted import surcharges for goods shipped directly from China in late April. The alert came as the US's 145 per cent duty on most Chinese imports was temporarily cut to 30 per cent after weeks of chaos for cross-border e-commerce retailers. The 'de minimis' tax on small parcels from China and Hong Kong was also lowered to 54 per cent from 120 per cent, a relief for e-commerce platforms such as Shein and Temu that rely on direct shipments from China to keep prices low. Shein's observed US sales have been falling since the platform started raising prices Apr 25. Sales were 15 per cent lower for the seven days ended May 4 compared to the same period a year ago, according to Bloomberg Second Measure, which analyses credit and debit card transactions. Temu's sales fell about 10 per cent in the May four-week from 2024. Transaction volumes in the US saw a similar drop. Consumer traffic showed the same downward trend on the two platforms after they raised prices last month. Average daily customer traffic for the 15 days after the price hike – to May 9 – was down more than 20 per cent from the 15 days before the adjustments, according to Similarweb. Uncertainties remain around trade negotiations – and e-commerce retailers such as Shein. Tariffs have only been lowered for 90 days, and are still higher than before Trump retook office. And China-originated online budget platforms remain some of the hardest hit retailers, with US giants observed sales up 8.1 per cent and Walmart's rising 4.6 per cent the May 4 week, according to Bloomberg Second Measure. BLOOMBERG
