Shein, the fast-fashion giant, is exploring the possibility of going public on the London Stock Exchange and has engaged former UK Chancellor Sajid Javid in discussions.
- Javid is among several high-profile city figures approached by Shein, indicating a strategic move towards strengthening its corporate governance.
- The retailer is shifting its focus to London after facing hurdles with US regulatory approval for a New York IPO.
- The potential IPO could value Shein at an estimated £50 billion, marking one of the largest in London’s history.
- Shein remains tight-lipped, declining to provide comments on these developments.
Fast-fashion leader Shein is reportedly in talks with Sajid Javid, the former Chancellor of the Exchequer, as part of its strategic manoeuvres ahead of a potential initial public offering (IPO) on the London Stock Exchange. This engagement suggests Shein’s intent to bolster its board with figures who have significant influence and experience in the financial domain.
Sources including Sky News have indicated that Javid is one of several senior city figures currently under consideration by Shein’s executive chairman, Donald Tang. The discussions could lead to Javid either joining Shein’s board or assuming an advisory role with the Chinese-origin retailer. Alongside Javid, Baroness Fairhead, former chair of the BBC Trust, is also listed among potential candidates by executive recruiters.
The company’s renewed focus on London follows difficulties in securing the necessary approvals from US regulators for a New York IPO. Shein’s decision underscores a strategic pivot as it seeks a favourable regulatory environment to advance its ambitious financial objectives. The listing on London’s exchange is projected to value Shein at approximately £50 billion, potentially ranking it as the second-largest float in the city’s market history.
When approached for comments by the media, Shein opted not to divulge any information regarding its IPO plans or the inclusion of Javid and other senior figures in its leadership structure.
Shein’s engagement with high-profile figures such as Sajid Javid indicates its serious commitment to a successful London IPO amidst challenging regulatory landscapes.
