More on Shein’s stock market debut in Hong Kong. “Let global consumers enjoy the sound of fashion,” said Leigh Gui, Shein’s chief financial officer, after a gong was struck to mark the start of trading. The lacklustre launch as a publicly listed company comes after one of the longest-awaited initial public offerings in recent years, after plans to list in New York were blocked by regulators over forced labour concerns. Shein also considered a £50bn flotation in London, but faced similar questions about its supply chain from campaigners, MPs and investors. The plunge in value has been driven by regulatory changes around the world that threaten its business model of shipping goods in small packages out of China to take advantage of tax breaks on low-value imported goods. Shein swung to a loss of $99m in the first three months of this year, compared with a net income of $395m the year before, after the US removed its “de minimis” import duty exemption on small packages, hitting its sales
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More on Shein’s stock market debut in Hong Kong. “Let global consumers enjoy the sound of fashion,” said Leigh Gui, Shein’s chief financial officer, after a gong was struck to mark the start of trading. The lacklustre launch as a publicly...
The lacklustre launch as a publicly listed company comes after one of the longest-awaited initial public offerings in recent years, after plans to list in New York were blocked by regulators over forced labour concerns. Shein also considered a £50bn flotation in London, but faced similar questions about its supply chain from campaigners, MPs and investors.
- The plunge in value has been driven by regulatory changes around the world that threaten its business model of shipping goods in small packages out of China to take advantage of tax breaks...
- Shein swung to a loss of $99m in the first three months of this year, compared with a net income of $395m the year before, after the US removed its “de minimis” import duty exemption on...
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