‘Zero conversations’ about London IPO valuation, says Shein boss

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Shin’s executive chair emphasized that both investors or fast-fashion retailers’ management did not express concern over the company’s evaluation because it followed a blockbuster list in London in the face of trade tariffs and strict competition.

Donald Tang told the Financial Times that any of its existing investors – which included Sikoiya China, is currently known as Hankshan, General Atlantic and Abu Dhabi Sovereign Sovereign Fund Mubadala – raised any allegations on Shin’s evaluation before the planned primary public offer.

“If no one is happy to me, they haven’t told me yet. I only talked to our existing shareholders – nothing but happiness, “he said in an interview where he repeatedly refused to discuss the company’s IPO plan, called” elephants in the house. ”

Shin was worth $ 66 billion during his recent funds in 2021. However, some investors and other stakeholders have been protesting to cut about $ 30 billion in evaluation, the Financial Times has been reported earlier, a step that can help complete an IPO in the first half of this year.

Tang, who joined the China-established squad in 2022 to assist in the stock market list, said that Shane’s management had a “vacant conversation” about reducing its evaluation.

“When we are actually going public, that question will be [about valuation]But we are not going public now. The The We haven’t had any conversations so far, ”he said.

Sheen, now the headquarters in Singapore, started planning to become public in New York at the end of the first 2021, but was introduced in the UK after the US Securities and Exchange Commission was dismissed. Even in determining a heavy decrease price, a flotation in London’s market will be one of them, which fought to attract and hold larger international lists.

Organization, In most Chinese factories, the cheap clothing made by the world directly to the world is facing the rivals group Temu, and the US is facing uncertainty about the future discount of our import duty for less than $ 800 in the United States.

US President Donald Trump finished the “de Minimis” discount before the parcels were stacked at the points of entrance to the United States last month. Trump also introduced an additional 10 percent tariff on import from China, then It doubles in 20 percent Last week.

Shain has suffered 40 percent Net profit From $ 1 billion in 2024, people who are knowledgeable about its internal estimates have told the FT before.

Tang said that investors are very happy because… We have developed skills, we have reduced waste..

He acknowledged that the company had “fluctuations” in the profit margin of the company but he said that this group came through the previous disruption, such as the Covid -19 epidemic.

He refused to draw the impact on Shaine from the “De Minimis” tax lufole off, but said that this group was “elastic and sticky”, added that it was “always a global model, so we have already started global diversity”.

Shane had earlier told investors that a list could occur as soon as April, but an IPO could be pushed in the second half of this year as it navigates the challenges, including changes in US customs rules.

Asked if shePO is now more likely to be IPO in the second half: “You want to do IPO soon.”

The company has filed a confidential IPO papers to the UK Markets Controller in June. UK and China refuse to comment on the progress on the list that is awaiting approval from the controllers of Chinese.

“If I make an agreement to make everything confidentially with others, I will not violate that agreement,” he said. He said.

However, he said that after the listing process, the company “can embrace the universal process for accountability and transparency because there is a need for alternatives to information related to the information that government agencies should publish.”

“By doing this properly we can gain public confidence,” he said.

Sheen was founded in 2002 but its sales were turburged by boom during online shopping. OverdueThe It has faced an investigation from politicians and preachers over allegations of weak work practice in its broad supply chain.

Were the agencies Accused A parliamentary committee by a British MP in January about “not respect.” It has followed a presence of a top European lawyer, where he refused to answer the committee’s question on the evidence of cotton used in his products and acknowledged that the Jinjiang region of China was forced into labor.

Tang said that Shane later wrote to the MP by answering all the questions. Shein says that forcibly labor has a “zero tolerance policy” and most of it is understood to have come from Australia and the United States.

Although Shein initially tried to list the US, Tang praised London as a “fantastic capital market”. “It has the best timzone, the best language. It has the best separation between validity and politics and it contains. The The One of the highest values ​​for accountability, “he said.