Fashion giant Shein will make its ‘£20billion’ stock market debut in Hong Kong ditching plan to list in London

SHEIN is to make its stock market debut in Hong Kong after a potential London listing was ditched. The Chinese fashion giant could see its valuation hit £20billion when it goes public from September 1. Shein could be valued at £20billion as the fashion giant prepares for its Hong Kong stock market debut Credit: Reuters A potential London listing was ditched after regulatory challenges Credit: Getty It failed to list on the UK’s Stock Exchange in 2024 due to regulatory challenges. Yesterday Shein said it will offer nearly 280million shares for between £4.45 and £4.63 each. Sign up for the Money newsletter Thank you! That could see it raise £1.3billion at the top range. But it is far lower than in 2022 when it was given a market valuation of £100billion. Shein has become one of the world’s biggest fast-fashion retailers, with customers in more than 150 countries. It is known for selling super-cheap clothing backed by a vast network of factories in China that can quickly churn out new products based on fast-changing trends. At the end of March this year, it had 281million active customers, a rise of more than 16 per cent in 12 months. But in July, the company posted a quarterly loss of £73million after sales slowed. Most read in Money The retailer also failed to list in the US. It has since been hit by President Donald Trump’s tariffs, which have increased its costs and decreased demand. Shein has also faced concerns over its environmental impact and claims of forced labour in its supply chains, which it denies. Chinese regulators approved the application to list in Hong Kong in July. Water bosses on tap Thames Water’s creditors have revealed plans for a new board at the troubled utility company. London & Valley Water, which represents lenders holding £17billion of Thames Water debt, has appointed ex-Yorkshire Water CEO Liz Barber, senior civil servant Dame Bernadette Kelly and former Openreach boss Clive Selley to join new company fixer Mike McTighe, who is trying to save the firm from being renationalised by Labour. London & Valley Water has proposed a deal to write off some of its massive debts. Over-50s jet jobs EasyJet is to launch a recruitment drive to attract more over-50s as cabin crew, with applications opening in September Credit: PA EasyJet has launched a recruitment drive aimed at hiring more over-50s as cabin crew. Applications are set to open from September with roles available across the airline’s UK bases. Michael Brown, director of cabin services, said: “Over-50s bring their existing skills plus a wealth of life experience that is appreciated by our customers and colleagues alike.” The airline began recruiting older workers in 2022. Since then, the number of cabin crew over the age of 50 has more than doubled, and figures for over-60s have almost quadrupled. Comment now