Shein eyes Hong Kong for IPO as London listing stalls Retail Fast-fashion giant Shein is reportedly working towards a Hong Kong initial public offering (IPO) after failing to secure approval from Chinese regulators for its London listing. The Singapore-headquartered company aims to file a draft prospectus with Hong Kong’s stock exchange in the next few weeks, according to Reuters. The move comes as a blow to [...]
Asos and Boohoo stick to US closures despite Trump tariffs Retail Asos is to continue with its plan to close its distribution centre in Georgia, USA, and serve the country from Yorkshire despite the imposition of President Donald Trump’s tariffs. At the start of the year, the fast-fashion group announced plans to close its US base in another effort to boost profitability and streamline operations. The [...]
In The Style: Huge debts revealed after rescue deal saves jobs Retail In The Style owed more than £20m when it was rescued after collapsing into administration, it has been revealed. The Manchester-based fast-fashion brand rescued by Alps Sourcing Limited last week in a deal which secured 87 jobs. The debts have been revealed in a new document filed with Companies House by administrator FTS Recovery. What’s the [...]
In The Style: Fast-fashion brand saved after administration collapse March 19, 2025 In The Style has been sold after collapsing into administration in a move which put hundreds of jobs at risk of being lost. FTS Recovery had been appointed to oversee the administration process at the Manchester-based company before a deal with Alps Sourcing Limited was agreed. It has now been confirmed that 87 jobs in [...]
Shein: Discounted valuation would give IPO a ‘better chance of going ahead’ February 17, 2025 Fast-fashion giant Shein is under investor pressure to slash its valuation by two thirds from its all time high should it go ahead with its long-awaited float on the London Stock Exchange later this year, according to a report. Shen was valued at $66bn (£52bn) in a funding round in 2023 and as high as [...]
In The Style goes out of fashion as administration looms February 14, 2025 Fast-fashion retailer In The Style is on the brink of collapsing into administration two years after being forced into a rescue deal. FTS Recovery is being lined up to oversee the potential administration of the company which was founded by Adam Frisby in 2013. The business was previously listed on the London Stock Exchange’s AIM [...]
‘We need to get back to our very best’: Boohoo boss vows to make 2025 a ‘year to remember’ January 22, 2025 The chief executive of fast-fashion giant Boohoo has said the group “needs to get back to our very best” as he vowed to make 2025 “a year to remember”. Daniel Finley was speaking a day after shareholders voted to keep co-founder Mahmud Kamani on its board in another blow to Mike Ashley’s Frasers Group. But [...]
‘Horrified’: All Saints founder slams Shein for fast-fashion practices January 18, 2025 The founder of British clothing brand All Saints has said he would be “horrified” if fast-fashion firm Shein is allowed to list in London, describing the Chinese-founded company as the “worst” offender in the sector. “Fast fashion really has changed the whole industry, because it’s now like a race to the bottom… The planet cannot [...]
Asos to close US distribution centre with customers served from Barnsley instead January 15, 2025 Online fashion retailer Asos will close its distribution centre in Georgia, USA, in another effort to boost profitability and streamline operations. From late this year, US customers will be served from Asos’ automated UK fulfilment centre in Barnsley, and through a “smaller, more flexible local US site”, the company said. The Atlanta warehouse will be [...]
Shein’s ‘evasive’ performance triggers fresh fury from campaigners January 9, 2025 Human rights groups have launched fresh attacks on the fast fashion firm Shein after a representative of the firm repeatedly dodged questions from MPs over where it sourced materials for its clothing. During a Business and Trade Select Committee hearing on Tuesday, Shein’s London-based general counsel for EMEA, Yinan Zhu, repeatedly failed to give a direct answer [...]