Shein, the Chinese online fast-fashion retailer, faces challenges in its pre-IPO phase as it encounters pushback from Europe's retail industry and lawmakers. The company's expected pivot to list in London rather than the U.S. due to China-U.S. tensions is closely monitored by other IPO prospects. Despite recording impressive financial figures like $32.2 billion in sales in 2023 with a 40% revenue growth and doubling its net profit to $1.6 billion, Shein's charm offensive hits roadblocks in Europe and faces concerns over a possible London IPO.
Kind of wild that Shein is going public on the LSE: Revenue of $32B, up 40% YoY Net Profit $1.6B, up 100% YoY 250m app downloads. Targeting $63B market cap https://t.co/sezHykvfAk
Americans are flocking to Temu, but they trust Amazon so much more https://t.co/pzSU9YYwh0
Americans are flocking to Temu, but they trust Amazon so much more. https://t.co/WWrVKEajYu
Great to chat with Just Style about Shein's IPO on the London Stock Exchange... https://t.co/hnoYExiRhg
Online shop Temu has become famous for its rock-bottom prices - But there are some major catches https://t.co/KbDLL1joWG https://t.co/aZ97zjJDnJ
🇬🇧 Temu is famous for rock-bottom prices - But there are some big catches https://t.co/qW5fZmzAaE
🇺🇸 Retailers are getting explicit about how they're staying competitive with Shein & Temu https://t.co/typpHarn9Y
Chinese e-commerce upstart Temu is turning US shoppers into loyal customers and putting pressure on legacy retailers like eBay and Amazon. https://t.co/DRTQPOHPut
🎧 Listen: Fast-fashion giant Shein hoped to have a splashy U.S. public offering this year. In today's episode of The Journal podcast, @shenlulushen explains how the divide between Beijing and Washington got in the way. https://t.co/utb8wMOxjZ
By now, it’s no mystery that fast fashion is an unethical industry. Everyone knows that the low prices offered by Shein, Temu, and similar retailers are possible thanks to labor abuse and poor production quality. Still, business is booming. In 2023, Shein made… https://t.co/9bzIDoC7HG
New: The Shein fast-fashion train keeps rolling. Latest financials here: https://t.co/sixVKb6eLY @jingyanghk https://t.co/lc2ixTKARq
Sources: Shein recorded $32.2B in sales in 2023, up 40% YoY, compared with 37% YoY growth in 2022, and doubled its net profit to $1.6B, for a 5% profit margin (@jingyanghk / The Information) https://t.co/qgzSXR8NF0 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/xqJjhUfIQD
📣 JUST IN: Shein's 40% Revenue Growth and Profit Surge in 2023 Boosts IPO Prospects - The Information $PDD $AMZN $WMT $TGT $COST $BABA 👉 Key Highlights: 📍 Shein's revenue rose 40% in 2023, reaching $32.2 billion. 📍 Net profit doubled to $1.6 billion, achieving a 5% net… https://t.co/qO0JsUiQM4
China-founded fast fashion giant Shein recorded $32.2 billion in sales last year, up 40% YoY, compared with 37% YoY growth in 2022 Shein’s net profit doubled to $1.6B - The Information https://t.co/jrV6ZI2Xkc
Shein increased revenue 40% in 2023, doubling profits, which could help win over investors ahead of a possible IPO. https://t.co/y9IRz9Nw08 By @jingyanghk
❖ SHEIN RECORDED $32.2B IN SALES IN 2023: INFORMATION
🇬🇧 Shein set to miss out on FTSE 100 spot as industry body flags concerns https://t.co/7PbJEYz33S
🇬🇧 Shein to miss out on FTSE 100 as British Fashion Council hits out at planned IPO https://t.co/7hi5zYtBNO
What Is Temu? Read Before You 'Shop Like a Billionaire' https://t.co/BSWV5SHHh3
Allowing Shein to list on the London stock market would be a “very bad idea”, Nigel Farage has said https://t.co/ElSWqInh67
Online fast-fashion retailer Shein's pre-IPO charm offensive hits roadblocks in #Europe, as pushback from Europe's retail industry and lawmakers grow. #retail #fastfashion #IPO #listings #capitalmarkets #equity https://t.co/i86q2B9jxI
China's Shein faces laundry list of concerns over possible London IPO https://t.co/1hcZ0xGlFP
The rise and rise of fashion giant Shein https://t.co/GvJ7zhgbDl
Shein's expected pivot to London rather than the United States for its IPO — triggered by persistent tensions between China and the U.S. — will be closely watched by IPO prospects mulling where to list their shares in a dicey geopolitical climate. https://t.co/4fFUb3JOXn
Shein's pre-IPO charm offensive hits roadblocks in Europe https://t.co/F0Y1Xmbp4r https://t.co/31Ng3XM3lG
"Shein is bad for the fashion industry and our planet—but I can’t wait for the IPO," Resonance chairman @lawrencelenihan writes in a new commentary. https://t.co/aOOaiZ2kCG