Shein delays IPO amid Trump tariff setback

Shein is looking at delaying its blockbuster London initial public offering following changes to import tariffs in the US.

The fast fashion giant had previously informed investors that its flotation could happen as soon as Easter but it is thought to now likely be pushed back into the second half of the year, The Financial Times reported.

Shein’s plan for an IPO hit another hurdle last week when the Trump administration said it would close the “de minimis” duty exemption in the United States and an additional 10% of tariffs would be added on all Chinese goods, ending an import rule that had helped the retailer keep prices low.

The retailer is understood to be ramping up its production base in Vietnam to mitigate the impact of rising US tariffs on its supply chain.

It is offering key Chinese suppliers temporary incentives, including up to a 30% increase in procurement prices and larger order guarantees, as it shifts some of its production outside of China.

Earlier this week, Reuters reported that Shein’s flotation on the London Stock Exchange could be slashed from £50bn to around £40bn ($50bn), nearly a quarter less than its 2023 fundraising value.

The retail giant, which filed confidential papers in June last year, is still waiting for regulatory approval in the UK and China.

Human rights campaigners Stop Uyghur Genocide launched a fresh attempt to block the retailer’s listing at the start of the week over claims the online giant has benefited from the “proceeds of crime”.

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