The fast fashion giant Shein has confirmed plans for an IPO. In conversation with the Times, the CEO Donald Tang said that he would like the company to “take over the responsibility and transparency of a stock corporation”.
At the moment, Tang refused to comment on the evaluation and the location of the stock exchange, but said that Shein will “go” on the stock exchange whenever it is appropriate. He added: “If you do something like this, it’s not just about us. It is about all responsible authorities who are in charge … it will eventually [eine Aktiengesellschaft] become because of the size and maturity ”.
It is the first time since the beginning of the rumors that a Shein manager confirms the company’s stock market plans. So far, such a step has only been speculated, whereby the sources of different media even went so far to say that Shein had been confidential in June 2024.
If one believes the reports, Shein’s IPO did not go smoothly. The company is said to have previously sought an IPO in the United States, but was faced with regulatory and political counter -reactions. The company then turned to London, where similar obstacles appeared.
In London, legal challenges of NGOs and uncertainties in the Sheins Suppliere Börsenpläies have questioned, especially with regard to allegations of the exploitation of employees: inside and non -sustainable production practices that Tang all contested.
In an interview with the Times, Tang said that the company adheres to the laws of the local markets and, due to low inventory, has fewer product waste than its competitors. He “admired” the British regulatory authorities for their “clear separation between politics and regulation”.
He also confirmed that Shein had become a member of the Confederation of British Industry (CBI) because the company wanted to be a “globalized company”. “We want to be a British company in London. We want to be a local British company … We are registered here, we pay taxes here, we want to be part of a community, ”he added.
This article was previously published on fashionunited.com and was used with digital tools translated.
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