In late 2021, the online fast-fashion retailer made its Singapore office the legal entity operating Shein’s global website, and de-registered its main business in China, according to corporate filings obtained by Reuters. The move could pave the way for Shein to list shares in the U.S. this year. (Reuters)
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In late 2021, the online fast-fashion retailer made its Singapore office the legal entity operating Shein’s global website, and de-registered its main business in China, according to corporate filings obtained by Reuters. The move could pave the way for Shein to list shares in the U.S. this year. (Reuters)
Talking point: The Singapore-registered company is seeking to quadruple the number of its employees in the city-state to about 200. The company is currently advertising for government relations associates and professionals in human resources, marketing and IT. Shein’s founder and CEO Chris Xu, who started the company in Nanjing in 2008, is now a permanent resident of Singapore. Last month, Reuters reported the company had revived its New York listing plans and that Xu was considering Singapore citizenship to sidestep China’s tougher rules for offshore listings. Shein, valued at US$50 billion in early 2021, sells its clothes online in the U.S., Europe and Asia, but not in China.
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