This would mark the retailer’s third attempt at an IPO. Before its attempt to list in London, Shein had first pursued a listing in New York to gain legitimacy as a global, rather than a Chinese company, and access to a wide pool of large Western investors, reported Reuters.
The decision comes as the retailer has been facing increasing pressure from European regulators in recent months. The EU has recently called on the online fashion retailer to comply with consumer protection rules and warned to impose penalties if it fails to do so.
In response, Shein shared in its latest release that it plans to conduct 2.5 million product safety and quality tests in 2025, up from 2 million last year, and that it will spend 13 million euros on compliance initiatives this year. The company’s new targets and strengthened initiatives for 2025 aim to further enhance the company’s product compliance and quality protocols, according to Shein.
