Shein reportedly approaches former UK chancellor ahead of IPO

Ahead of what is set to potentially be a major IPO filing, Shein is believed to have approached the UK’s Sajid Javid for a possible appointment to the Chinese fast fashion giant’s board.

According to Sky News, alternatively Javid, the former chancellor of the exchequer, is among those also being considered for an advisory role at Shein, with the company’s executive chairman Donald Tang said to have held talks with Javid in recent weeks.

Former BBC Trust chair Baroness Fairhead is also reportedly on the list of possible candidates being eyed by Shein, with a source close to the company stating that individuals being approached reflect Shein’s seriousness towards corporate governance.

While speculation over where Shein is to establish its bumper IPO has continued circulating, Sky News has reported that the company has edged closer to a London flotation after experiencing difficulties in securing approval from US regulators.

The media outlet noted that the offering could value Shein at around 50 billion pounds, becoming London Stock Exchange’s second largest IPO in history.

In New York, however, the retailer faced obstacles in the form of opposing senators that had advocated for an IPO block due to concerns about the company’s ties to China and its alleged lack of operational transparency.