Shein's Executive Chairman confirms the company's going public

After months of swirling rumours that Shein is planning a blockbuster float, the company's Executive Chairman has confirmed plans for a public listing for the first time.

The fast-fashion company has confirmed plans to float on the stock market, with London being the preferred location.

Donald Tang, the Singapore-based company’s Executive Chairman, told The Times that Shein wanted to be a public company "to embrace the … accountability and transparency of being a public company".

Shein has not previously publicly confirmed plans for an IPO but has been put under the microscope by politicians and campaigners over its labour practices and environmental impact.

The company has faced allegations that some of the clothes it sells contain cotton sourced from the north-western region of Xinjiang, where China has been accused of subjecting members of the Uyghur minority group to forced labour and genocide.

Tang rejected allegations that Shein exploited workers and damaged the environment, saying the company was "democratising" the mass global fashion industry.

Shein began exploring its London listing in early 2024. Its original plan to list in New York came unstuck following opposition from US lawmakers. It reportedly filed paperwork with the Financial Conduct Authority last summer for a London listing.

Although he didn't reveal the IPO's timeline, Tang said it would list "whenever it’s appropriate". All the while, The UK is estimated to be one of Shein’s top five largest markets.

Californian-based  Tang "admired" UK regulators for "a clear sense of separation between politics and regulation".

Last month, President Trump’s threat to clamp down on tariff-free imports of small goods from China to the United States, Shein’s largest market, may have further delayed the float. Shein has been profiting from sending small packages from China to Western countries by utilising tax exemptions that mean that they do not have to pay import duties on small packages. This is known as the "de minimis" rule. But Trump has promised to scrap the de minimis rule exemption for small packages worth less than $800 that are shipped from China, Canada and Mexico to the US.

Tang played down concerns about Trump's threats. He said, "We have a superior business model. We are about customers. We’re not about customs policy."

However, sheins profits dropped by more than a third in 2024, adding to its challenges ahead of a London stock market listing. The company's net profit declined by almost 40% to £789 million ($1 billion) in 2024 after a challenging final quarter and rising competition from rival Temu.

Tang concluded: "We want to be a globalised company. In London, we want to be a British company. We want to be a British local company … we’re registered here, we’re paying taxes here, we want to be part of a community."