Shein’s executive chairman Donald Tang engaged in talks with the London Stock Exchange (LSE) and other key stakeholders in the UK economy during a recent visit to London, according to sources cited by Sky News.

City sources have allegedly told Sky News that Shein is exploring options for raising capital through a public share sale, with discussions revolving around the potential of a public listing in the UK.

It is reported that a US listing remains the most probable scenario with insiders, including bankers and those close to the company, hinting that a dual listing in both New York and London is unlikely.

Shein’s confidential filing with the US Securities and Exchange Commission (SEC), as reported by the Wall Street Journal last month, indicated that if the company proceeds with the listing, it could mark one of the largest public floats in the last decade.

To lead as underwriters for its IPO Shein enlisted the expertise of financial giants Goldman Sachs, JP Morgan, and Morgan Stanley, all of whom have been appointed to work on the potential deal.

LSE refused to comment and Shein did not respond to Just Style’s request for comment at the time of going to press.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The latest McKinsey & Co State of Fashion 2024 report revealed that 40% of US consumers and 26% of UK consumers have shopped at Shein in the past 12 months.

The fast fashion retailer’s presence in the UK has grown over the last year with GlobalData finding that new UK accounts showed a £1,121.7m growth in sales from the end of October to December 2022, confirming Shein was the largest apparel retailer in the UK in 2022 with market shares of 1.7%

Rumours mounted in September that the Singapore-headquartered online retailer planned to acquire online retailer Missguided from Frasers Group which was then confirmed and finalised in October.

Analyst reactions were positive at the time, with investment group Shore Capital believing the acquisition would “naturally compliment” both parties: “Frasers would benefit from the footfall generated by Shein shoppers, while Shein would leverage Frasers’ physical stores as an entry into traditional retail channels.”

In the US, Shein struck a deal to acquire a third of Forever 21’s US operator SPARC Group in August as it looked to boost its presence in the US market.