Retailer Shein gets FCA approval for London IPO but faces challenges over tariffs and Chinese regulation

Shein has had its initial public offering (IPO) approved by the UK's Financial Conduct Authority, a key step towards a London listing. However, the company is facing market turmoil due to new US tariffs and strict regulations in China. Although valued at $66bn, Shein plans to reduce its valuation to $50bn and the impact of the removal of the US 'de minimis' regime could affect pricing and sourcing strategy. The company works with 5,800 suppliers and has moved its headquarters to Singapore, but needs approval from Chinese authorities to list in London.