Fast-fashion giant Shein is plotting the opening of a warehouse in the UK ahead of its highly anticipated float on the London Stock Exchange, according to reports.
Shein is said to have been visiting possible sites in preparation for the blockbuster float, as first reported by The Telegraph.
Shein is understood to be eyeing a ālarge siteā within the Midlandsā āgolden logistics triangleā region.
Sources have said the retailer is looking at warehouses between 300,000 and 400,000 sq ft in size as well as ābeing open toā locations of up to 600,000 sq ft.
Shein representatives have reportedly been visiting sites in the UK over the past few months with viewings across locations including Derby, Daventry, Coventry and Castle Donington.
The newspaper reported that Shein would āprefer a building that is already fitted out to handle ecommerce operations, rather than building its own siteā.
Its third-party partner, Super Smart Service, currently handles its UK orders from a warehouse in Cannock, Staffordshire.
The fast-fashion giant has called on property agents at Jones Lang LaSalle and Savills to advise on its UK search and is expected to decide on the location at the end of the year.
Warehouse operations in the UK could be live by the third quarter of next year if a deal goes ahead.
A Shein spokesman said: āTo support the growth of the business, Shein is actively exploring warehousing locations worldwide. However, Shein has no immediate plans to acquire warehouse space in the UK.ā
Shein confidentially filed paperwork at the beginning of June to kick off its IPO process, according to Reuters.
Since then, several concerns have been raised regarding the retailerās business practices by the likes of the British Fashion Council, human rights groups and new business secretary Jonathan Reynolds, among others.
No comments yet