LONDON (AFP) – Speculation mounted on Tuesday that Chinese-founded “fast fashion” giant Shein was mulling floating on the London Stock Exchange, with Sky News reporting that the United Kingdom (UK) government has held talks with its boss.
Finance Minister Jeremy Hunt met Shein’s Executive Chairman Donald Tang earlier this month “as part of efforts to convince it to list in the UK”, the broadcaster reported.
If the government succeeds, it would be one of London’s biggest-ever corporate flotations.
Shein, founded as ZZKKO in 2008 in China and based in Singapore, has quickly conquered the global fast fashion market by catering to young customers through social media.
The online retailer is valued at USD66 billion last year with revenues reportedly over USD23 billion.
