Shein is weighing a move to relocate its headquarters from Singapore back to China as it looks to secure regulatory approval for its long-awaited Hong Kong stock market debut.
According to Bloomberg, the fast-fashion giant has consulted lawyers about setting up a parent company in mainland China, although discussions remain at an early stage and may not be finalised.
The move could help the brand win the backing of Beijing authorities, whose approval is required for any company with substantial links to China to list overseas.
Although headquartered in Singapore since 2021, Shein relies heavily on China’s garment supply chain and remains under the oversight of the China Securities Regulatory Commission.
The retailer has tried for several years to go public, but efforts in New York and London fell through after failing to clinch Chinese regulatory sign-off. A Hong Kong flotation is now seen as its most viable option after setbacks in Western markets.
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The company confidentially filed for a Hong Kong IPO last month, but changing its corporate domicile during the process would be an unusual step, lawyers told Bloomberg.
The retailer has also faced increasing headwinds abroad, with US President Donald Trump scrapping a tariff exemption on low-value imports earlier this year, while European and UK lawmakers are reviewing similar measures.
Shein declined to comment on the reports.
The update follows news last week that Shein’s UK sales surged 32% in 2024 to £2.05bn, underlining its continued growth while IPO plans gather pace.
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