Chinese-founded fast-fashion giant Shein saw profits plunge over 70 per cent in the first half of 2024 due to fierce competition from rivals such as PDD Holdings’ Temu, according to a report by The Information. Revenue growth of the Singapore-registered company slowed to 23 per cent during the period, down from 40 per cent for … Read more
Chinese-founded fast-fashion online retailer Shein is laying off about two dozen employees at its Singapore headquarters, the company said on Wednesday, as the e-commerce firm restructures part of its business amid doubts about its initial public offering plan in London. More than 20 employees are affected by the lay-offs that are part of a restructuring … Read more
Shein confidentially filed papers with Britain’s markets regulator in early June, two sources said, kicking off the process for a potential London listing by the online fast-fashion retailer later in the year. The China-founded company, which was valued at US$66 billion in a fundraising round last year, began to explore a listing on the London … Read more
The concerns of shareholders adds to the challenges Shein has faced while searching for a place to host its public debut. More troublesome for the online retailer is the regulatory vacuum it finds itself in owing to its Chinese origins and operations, said a person who is familiar with the procedures for companies to conduct … Read more
