Shein is facing pressure to further slash its valuation ahead of its listing on the London Stock Exchange.
The fast fashion giant could be forced to reduce its valuation to around £23.83bn ($30bn), Bloomberg News reported, with its shareholders indicating an amendment is needed to complete the listing in the UK.
It comes after reports earlier this month emerged that Shein ‘s London IPO could be cut from £50bn to around £40bn ($50bn), making it nearly a quarter less than its 2023 fundraising value.
Last week, it was also reported that the ecommerce retailer was looking at delaying its IPO following changes to import tariffs in the US.
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The brand’s plan for an IPO encountered another obstacle when the Trump administration said it would close the “de minimis” duty exemption in the US and an additional 10% of tariffs would be added on all Chinese goods.
The move ended an import rule that had helped the retailer keep its prices low.
Although Shein previously told investors that its flotation could happen as soon as Easter, it is now thought to likely be pushed back into the second half of the year, The Financial Times reported.
The Chinese giant initially began mulling its possible UK listing back in December 2023.
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