Fast fashion company Shein is considering an initial public offering in London after encountering obstacles to listing in New York.
London, where there is a post-Brexit shortage of stock market listings and high competition from other robust financial markets, has welcomed Shein’s potential IPO as part of an initiative to strengthen the city as a leading financial center. British Finance Minister Jeremy Hunt is also said to welcome the possibility of a British IPO.
“A Shein IPO could not only shine a spotlight on London as an attractive market for international companies, but also provide investors with a lucrative opportunity to get involved in the fast-growing fast fashion sector, which is popular with consumers worldwide, especially “Growing more and more traction among Generation Z,” according to the Bloomberg BNN news magazine.
Shein has encountered difficulties in the United States. Regulators and government officials, including Senator Marco Rubio, advocated for blocking the IPO amid concerns about ties to China and the company’s perceived opacity.
Singapore, where Shein is headquartered, and Hong Kong could also be considered for listing.
This translated post previously appeared on FashionUnited.com