Shein’s London IPO Stalled Amid US Tariff Fallout

Shein Group Ltd.’s planned IPO in London has slowed significantly due to the impact of US tariffs and pending regulatory approvals.
The company’s valuation target has dropped from $90 billion to about $30 billion, with shareholders selling shares at steep discounts privately.
Shein, based in Singapore and founded in China, has raised US product prices substantially due to tariffs and the end of a tax exemption on low-value packages from China.
While the UK Financial Conduct Authority has approved the IPO, Chinese regulatory approval is still pending, and Shein is considering restructuring its US operations.