{
}
The UK government plans to allow the Financial Conduct Authority to oversee Shein's IPO in London, avoiding a detailed examination of the retailer's labor practices. This decision comes amid allegations, which Shein denies, regarding the use of forced labor linked to cotton from Xinjiang, China.
Swiss retailers are facing significant financial losses, estimated at CHF1 billion annually, due to competition from Chinese online platforms Temu and Shein, according to Bernhard Egger, director of Handelsverband.swiss. He highlighted that low-cost competition particularly threatens low-price segment stores, while those in higher price segments remain less affected. Egger anticipates growth in Swiss online commerce, driven by the rise of social commerce, which he predicts will increase from 10-15% to about 25% of online sales. He also noted the trend of hybrid shopping, where customers often research products online before purchasing in-store.
A lobbyist who collaborated with Rachel Reeves during the recent general election has secured high-level UK government meetings for Donald Tang, CEO of Shein, as the company explores a potential £50 billion listing on the London Stock Exchange. Kamella Hudson, a partner at FGS Global, facilitated discussions with Treasury ministers, including investment minister Poppy Gustafsson and City minister Tulip Siddiq, to advance Shein's ambitions.
Shein is preparing for a potential £50 billion IPO on the London Stock Exchange, with Barclays and UBS as advisors. However, the company faces challenges, including regulatory approvals in China and the UK, and scrutiny over its supply chain ethics. British Prime Minister Keir Starmer emphasized that all companies seeking to list in London will undergo labor rights checks.
Shein
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
UK government to rely on regulator for Shein IPO scrutiny
13:23 13.11.2024
Swiss retailers face billions in losses from Temu and Shein competition
10:40 09.11.2024
lobbyist facilitates treasury access for shein's listing ambitions in london
British Pound Sterling
London Stock Exchange Group plc
Shein
CHN
Poppy Gustafsson
Donald Tang
Rachel Reeves
Tulip Siddiq
Kamella Hudson
Show more
18:31 29.10.2024
Shein prepares for potential 50 billion pound IPO in London
14:36 16.10.2024
Trending
Subcategory
Corporate News
Industry Trends
Startups & Entrepreneurship
Retail and Consumer Goods
Supply Chain Management
Global Trade Developments
Government Economic Policies
Stock Market Updates
Industry Mergers & Acquisitions
Fintech Startups
CEO Changes
Energy Sector Developments
Workplace Trends
Emerging Startups
Funding Rounds & Investments
AI Applications
Private Equity Deals
Venture Capital Investments
AI Innovations
Finance Mergers & Acquisitions
Countries:
Companies:
Apple Inc.
Google Inc.
Tesla, Inc.
Amazon.com, Inc.
Microsoft Corporation
Tesmec S.p.A.
Alphabet Inc.
OpenAI ERC USD
Walmart Inc.
SWIGGY LIMITED
Mistral 1
TENCENT
NVIDIA Corporation
Foxconn Technology Co., Ltd.
Hollywood Bowl Group PLC
NASDAQ Composite
Wise plc
Mastercard Inc
Bose Corporation
Concrete Credit Limited
Currencies:
United States Dollar
Indian Rupee
Chinese Yuan
Euro
Japanese Yen
British Pound Sterling
United Arab Emirates Dirham
Vietnamese Đồng
Algerian Dinar
South Korean Won
New Zealand Dollar
Saudi Riyal
Thai Baht
Australian Dollar
Indonesian Rupiah
Singapore Dollar
Omani Rial
Bahraini Dinar
Qatari Riyal
Egyptian Pound
People: