Shein could decide whether to launch its blockbuster stock market float in London as soon as next week, City sources claim.
Reports suggest the fast fashion giant is leaning towards placing its £71 billion listing into the London Stock Exchange instead of the US.
Shein’s chairman, Donald Tang, met Chancellor Jeremy Hunt to discuss the potential float as part of a charm offensive in the City last month.
The latest threat by the US Congress to ban Chinese social media site TikTok is thought to be further swinging the decision away from New York because it sees less political risk in the UK.
Shein was founded in 2012 in Nanjing, China, and is now based in Singapore.
Its popularity in Europe has boomed over the past few years. It sells tops and dresses for as little as £5.
Related Articles
HOW THIS IS MONEY CAN HELP
But Shein has faced criticism for its environmental impact and treatment of workers in China.
The firm declined to comment.
Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.
