Shein profits slump in fresh challenge to long-planned London IPO

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Financial Times 14h ago

Shein profits slump in fresh challenge to long-planned London IPO - Financial Times

Quick Summary:

Sales for the full year increased by 19 per cent to $38bn, according to the people, one of whom added that the figures were from internal projections ahead of finalised accounts.

The lower profits highlight Shein’s challenges as it attempts to win regulatory approval for a London listing and navigate geopolitical changes that have put pressure on its valuation.

Shein filed confidential IPO paperwork with British regulators last year before the introduction of new UK listing rules.