Shein Pledges Investment in UK, Europe Amid Opposition to Potential London IPO

Published on July 11, 2024

Shein has pledged to invest over £200 million in the UK and the European Union as the online fast-fashion company battles opposition to its potential listing on the London Stock Exchange (LSE). The Chinese company, incorporated in Singapore, is facing scrutiny for avoiding import duty by shipping cheap clothes directly to customers’ doors from Chinese factories, and allegations that their products could involve Uyghur forced labour. On Wednesday, Shein said it plans to invest 250 million euros (£211 million) in the UK and the EU. The initial pledge includes a 200 million euros (£169 million) Circularity Fund for start-ups and other businesses that work on recycled materials, new and emerging preferred fibres, and related areas....

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