Fast-fashion giant Shein is making strategic moves as it eyes a major IPO in London.
- The Chinese-founded retailer is in talks with ex-chancellor Sajid Javid for a potential board position.
- Shein’s decision follows challenges faced in gaining U.S. regulatory approval for a New York listing.
- Baroness Fairhead, former BBC Trust chair, is also a contender for a position in the company.
- The prospective London IPO could value Shein at £50 billion, marking a significant stock market event.
Fast-fashion retailer Shein is in the midst of strategic discussions as it considers floating on the London Stock Exchange. The company has approached Sajid Javid, the former chancellor of the exchequer, as a potential board member or advisor. Javid is one among several prominent figures whom Shein’s executive chairman, Donald Tang, has engaged with, as reported by Sky News.
In seeking highly experienced individuals, Shein also considers Baroness Fairhead, known for her past leadership of the BBC Trust. The enlistment of such figures is part of Shein’s broader strategy to solidify its governance structure as it aims for a public listing in a challenging regulatory climate.
Shein’s focus on London for its initial public offering has been largely influenced by its inability to secure approval from U.S. regulators for a New York float. This strategic shift is significant, as a successful IPO in London could see Shein valued at about £50 billion, potentially marking the second-largest stock market debut in London’s history.
The company has remained tight-lipped regarding these developments when approached for comments. Nevertheless, the potential recruitment of senior figures like Javid and Fairhead is seen as a move to bolster its chances for a successful entry into the public market.
Shein’s strategic maneuvers to enlist high-profile board members signify its commitment to realizing a successful London IPO.
