Shein chairman confirms IPO plans

Fast fashion giant Shein has confirmed plans to float on the stock market. In conversation with The Times, executive chairman Donald Tang said he wished for the Singapore-headquartered firm “to embrace the accountability and transparency of being a public company”.

Tang declined to comment on the timing, valuation and destination of the listing, but instead said Shein would list “whenever it’s appropriate”. He continued: “When you’re doing anything like that, it’s not us. It’s about all the appropriate agencies who have the say… it will eventually become [a public company] because of the scale and maturity.”

It marks the first time since rumours began circulating that an executive at Shein has confirmed the company’s IPO plans. So far, such a move has only been speculated, with sources for various media outlets going as far as suggesting that Shein had confidentially filed for an IPO in London in June 2024.

If reports are to be believed, Shein’s attempt to list hasn’t been all smooth sailing. The company was understood to have previously tried for a listing in the US, however, was faced with regulatory and political backlash. The company then turned its attention to London, where similar obstacles began to present themselves.

Here, legal challenges from NGOs and supply chain uncertainties has brought Shein’s plans to list into question, particularly in regards to allegations of employee exploitation and unsustainable production practices, all of which Tang denied.

Speaking to The Times, Tang said the company complied with laws in local markets and had a lower product waste than competitors because of low inventory levels. The chairman said he “admired” UK regulators for their “clear sense of separation between politics and regulation”.

He also confirmed that Shein had become a member of the Confederation of British Industry (CBI), as it looks to be a “globalised company”. “In London, we want to be a British company. We want to be a British local company … we’re registered here, we’re paying taxes here, we want to be part of a community,” he added.