Singapore-headquartered online retailer Shein has received the go-ahead from the UK’s Financial Conduct Authority (FCA) for its proposed initial public offering (IPO) in London, as reported by Reuters.
It was reported in January 2025 that Shein aimed to finalise its IPO in London by the middle of the year, with the potential for listing around 20 April.
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Shein submitted documentation to the FCA for a London IPO in June 2024.
Before proceeding, the company must also obtain consent from Chinese authorities, particularly the China Securities Regulatory Commission (CSRC).
Shein recently notified the CSRC of receiving FCA’s approval but is awaiting a definitive response from the Chinese regulatory body.
Shein first sought permission from Beijing in 2024 to initiate a public offering in London.
The ultra fast-fashion retailer operates in 150 nations and was valued at $66bn during its latest funding round in 2023. The company does not directly manage any production facilities, but relies on 5,800 independent manufacturers primarily located in China for its merchandise.
Its business model now faces potential challenges due to policy changes by the US administration.
On 2 April, 2025 US President Donald Trump issued an executive order to withdraw the duty-free privilege previously extended to low-value shipments from China and Hong Kong.
This action is aimed at the de minimis provision, which allowed imports valued at less than $800 to enter the US without being subject to duties.
The regulation benefitted Shein and Chinese e-commerce businesses such as Temu, enabling them to set more competitive prices.
Shein is known for budget-friendly apparel such as dresses priced at $10 and jeans at $12.
In 2024 the Stop Uyghur Genocide organisation announced plans to challenge Shein’s listing on legal grounds.
