Overview

• Shein abandoned its planned London listing after securing approval from Britain’s FCA but encountering unexpected delays from the China Securities Regulatory Commission.
• The company intends to file a draft prospectus in Hong Kong within weeks and aims to go public by year-end.
• Shein’s earlier effort to list in New York was scrapped after U.S. lawmakers raised concerns over its labour practices.
• The U.S. closure of the de minimis loophole and imposition of at least 30% tariffs on small imports have disrupted Shein’s ultralow-cost model.
• Shein remains under scrutiny for alleged forced labour in its supply chain, sourcing cotton from Xinjiang, and an ongoing EU consumer-protection probe.