Reuters reported, citing people familiar with the matter, that Shein, the online clothing retailer, has received approval from the UK's Financial Conduct Authority (FCA) to launch an initial public offering (IPO) in London.
This is a significant step for the China-based company on its way to a London listing. But Shein still faces challenges, including.
US President Donald Trump's 145% tariffs on Chinese goods,
and tighter rules on duty-free shipping from China to the US.
Shein, which sells dresses for under $10 and jeans for under $12 in more than 150 countries, was valued at $66 billion in a 2023 funding round.
The company recently informed the CSRC that it has received FCA approval but has not yet received Beijing's permission.
