Shein: fast fashion company to potentially become a listing on the London Stock Exchange

Shein, the fast fashion clothing company, has apparently held talks with the London Stock Exchange about staging a blockbuster public listing in the UK, even after filing documents paving the way for a flotation in New York, according to Sky News.

The media empire had reported that Donald Tang, Shein's executive chairman, met executives from the LSE and other stakeholders in the UK economy during a visit to London last week to discuss the possibility of a listing in the UK - meaning stocks and shares of the company can be sold through the London Stock Exchange - which helps raise capital for the business. 

Its confidential filing with the US Securities and Exchange Commission, reported by the Wall Street Journal last month, suggested if it proceeded, a New York float would be among the largest in the last decade, and that Goldman Sachs, JP Morgan and Morgan Stanley have been appointed to work on the deal.

Shein is an online fast fashion retailer headquartered in Singapore after being founded in Nanjing, China in 2012, and grew to be the world's largest fashion retailer as of 2022. The company's valuation was slashed to $66bn as part of a share sale earlier this year, after valuing at $100bn last year. 

Last year the retailer acquired Missguided, the youth fashion brand, from Mike Ashley's Frasers Group, which could be a step for Shein to build a more meaningful profile in the UK. 

Shein has also acquired a one-third stake in SPARC Group, as it also took an undisclosed minority interest in Shein. However, several UK-based companies have decided to float in New York rather than London, such as ARM Holdings, Marex Group, and Flutter Entertainment.