Shein has officially confirmed its intention to go public on the stock market for the first time, with London appearing to be the preferred location.
In an interview with The Times, Donald Tang, Sheinâs Singapore-based executive chairman, stated that the company wishes to become public to âembrace the⌠accountability and transparency of being a public companyâ.
This marks the first public confirmation of Sheinâs IPO plans. The company has faced significant scrutiny from politicians and activists regarding its labour practices and environmental impact related to its business model of selling inexpensive Chinese-made clothing to Western consumers.
Tang defended the company against accusations of worker exploitation and environmental damage, claiming that Shein is âdemocratisingâ the global fashion industry. He maintained that the company complies with local laws and produces less product waste than competitors due to its low inventory approach.
Founded in 2012, Shein reportedly filed documentation with the Financial Conduct Authority last summer for a London listing after its plans to list in New York were unsuccessful.
While Tang repeatedly declined to specify the timing, valuation or location of the listing, he stated that Shein would go public âwhenever itâs appropriateâ. He noted that the process depends on âappropriate agencies who have the sayâ and added that going public is inevitable âbecause of the scale and maturityâ of the company.
The Chinese-born former investment banker, now based in California, expressed admiration for UK regulatorsâ âclear sense of separation between politics and regulationâ. The UK is believed to be among Sheinâs five largest markets.
United States president Donald Trumpâs threatened tariffs on small goods imported from China to the US (Sheinâs largest market) have fueled speculation about potential implications for the companyâs business model.
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