SHEIN is weighing a relocation of its headquarters from Singapore to mainland China as it seeks regulatory approval for a long-anticipated Hong Kong stock market debut.
Reports indicate that the fast-fashion giant has consulted legal advisers on establishing a parent company in China, though discussions are still at an early stage and may not be finalised. Industry observers noted that such a move could strengthen the company’s chances of securing approval from Beijing authorities, whose consent is required for any Chinese-linked firm to list overseas.
SHEIN shifted its headquarters to Singapore in 2021, but the business remains reliant on China’s garment supply chain and subject to oversight by the China Securities Regulatory Commission. The retailer has repeatedly attempted to go public, but plans for listings in New York and London stalled after regulatory clearances from China failed to materialise. Analysts now see Hong Kong as the most viable venue following these setbacks in Western markets.
The company confidentially filed for a Hong Kong IPO last month. Legal experts noted that altering its corporate domicile during the listing process would be an unusual step, though not without precedent.
SHEIN also continues to face external challenges, including the removal of a tariff exemption on low-value imports by US President Donald Trump earlier this year, and ongoing reviews of similar measures by lawmakers in the UK and Europe.
The update follows recent data showing SHEIN’s UK sales rose 32% in 2024 to US $ 2.6 billion, highlighting the company’s ongoing growth as its IPO plans move forward.
