Fast-fashion retailer Shein Group has considered relocating its headquarters back to China in an effort to gain Beijing authorities’ approval for its planned Hong Kong IPO, Bloomberg News reported on Tuesday, citing sources.
Singapore-headquartered Shein has consulted lawyers on setting up a parent company in mainland China, the report said, adding that discussions were only preliminary with no guarantee of Shein finalizing the move.
Reuters could not immediately verify the report. Shein did not immediately respond to Reuters’ request for comment.
Founded in China, Shein has spent years attempting to list, first in New York and then in London. The company has faced criticism from U.S. and UK politicians while failing to get approval from China’s securities regulator for an offshore IPO at a time of increasing tensions between China and the United States.
Shein is currently aiming to list in Hong Kong.
Reuters
