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Shein’s executive president insisted that neither investors nor management of retail retailers have caused concern about the assessment of the company’s values because he conducts a include in London’s blockbuster in the face of trade tariffs and solid competition.
Donald Tang told the Financial Times that none of his existing investors – which includes Sequoi cinema, now known as Hongshan, General Atlantic and Abu Dhabi Sovereign Fund for the wealth of mubadal – did not collect any complaints about Shein’s value assessment before the planned initial public offer.
“For me, if anyone is not satisfied, they haven’t told me yet. I only talked to our existing shareholders – nothing but happiness,” he said in an interview in which he repeatedly refused to discuss directly about the company’s plans, which he called “elephant in the room.”
Shein was estimated at $ 66 billion during its last round of funding in 2023. But some investors and other stakeholders are disturbed to reduce the estimate to about $ 30 billion, previously reported to the Financial Times, a move that could help finish IPO in the first half of this year.
Tang, who joined the group that joined China in 2022 in order to help lead the shares list, said that there was a “zero conversation” among Shein’s management that he had to reduce his assessment.
“When we actually go public, it will be a question [about valuation]But we are not going public at the moment. . . We haven’t talked so far, zero, “he said.
Shein, now headquartered in Singapore, launched plans for the public in New York for the first time in late 2023, but turned to the UK after the US Securities and Exchange Commission fueled it. Even with a strongly reduced assessment, the flotation would be one of the biggest decades in the London market, which struggled to attract and retain large international lists.
Company,, Which deliver cheap clothing made mainly in Chinese factories directly to customers around the world, faces a strong competition with a rival group the topic and uncertainty over the future of key exemption for US import duties for packages worth less than $ 800.
US President Donald Trump ended the exemption of “De Minimis” last month before putting a stretch of waiting as the plots accumulated at the entrance points in America. Trump also introduced an additional 10 percent of imports to imports from China and then doubled it at 20 percent Last week.
Shein suffered 40 percent fall into a net profit Up to $ 1 billion in 2024, people who knew about his internal projections told FT before.
Tang said that investors were “very happy because. We improved efficiency, we reduced the waste.
He admitted that there was a “fluctuation” in the profit margin of the company, but said the group came to previous disorders, such as the Coidd-19 pandemia.
He refused to attract an impact on Shein from the closing of the “de minimis” tax hole, but said that the “resistant and agile” group, adding that he “always had a globalized model, so we already started doing global diversification.”
Shein had previously told the investors that the list could happen as soon as April, but that IPO could be pushed into the other half of this year because it moves into the challenges, including changes in US tariff rules.
Asked if Shein was more likely to have IPO in the second half of the year, he said, “You would like to go before later.”
In June, the company filed a confidential and paperwork for the UK market regulator. Tang refused to comment on progress according to the list while Shein awaits the approval of a regulator in UK and China.
“If I have an agreement with others to be confidential, I will not break that agreement,” he said.
But he said that the company, going through the inclusion procedure, could accept the universal mechanism for responsibility and transparency because there are requirements instead of the option “regarding the information that public companies must detect.
“Doing it properly, we can earn the most public confidence,” he said.
Shein was founded in 2012 but sale turbo was filled with flourishing in online shopping during pandemic. He faced the supervision of politicians and the campaign for charges of poor work practice in his supply chains.
The company was defendant British MP in January “without respecting” the parliamentary committee. This was followed by the performance of Shein’s best lawyer in Europe, in which she refused to answer the questions of the Committee on the origin of cotton used in his products and whether he admitted that he was forced to work in the Chinese Xinjiang region.
Tang said shein then wrote to MPs answering all the questions. Shein said he had a “zero tolerance policy” for forced labor, and much of cotton is understood to come from Australia and the US.
Although shein initially tried to list in the United States, Tang welcomed London as the “fantastic capital market.” “He has the best time zone, the best language. He has the best separation of legality and politics, and there is one of the highest standards for responsibility,” he said.
