Zara boss calls for crackdown on fast-fashion tax loophole Retail The head of Zara’s parent company has called for a US-style crackdown on shipments of small goods in Europe to “level the playing field” between Chinese and European firms. Chinese giants Shein and Temu have heavily disrupted the global fashion market in the last few years, putting pressure on older companies. Part of their meteoric [...]
Retail bosses warn of dumping from Chinese firms into Europe Retail UK retail bosses have warned that Trump’s tariffs will cause low-quality goods to be dumped into Europe from China via distributor sites like Amazon. Unable to sell competitively in the US due to US President Donald Trump’s 104 per cent tariffs on goods from China, as well as his decision to end the de minimis [...]
Shein confirms listing plans with London in the spotlight Retail Fast fashion titan Shein has confirmed its plans to float on the stock market, and hasn’t ruled out listing in London. Chief executive Donald Tang told The Times that the firm wanted to go public to increase “accountability and transparency”. The brand had not previously confirmed a timeline for an IPO. Yet, reports suggest the [...]
Shein profit slumps as Temu gains ahead of London IPO February 23, 2025 Shein’s net profit fell by almost 40 per cent in 2024, raising doubts about its long planned London stock market listing. Shein’s profits dropped by more than a third last year, adding to the fast fashion group’s challenges ahead of a long-planned flotation that would be one of the biggest on the London stock exchange [...]
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 [...]
MPs plan to question Shein boss as firm eyes London IPO November 5, 2024 A cross-party group of MPs will call in Shein’s boss to comment on the risk of forced labour in fast-fashion supply chains, according to committee chair Liam Byrne. The House of Commons business select committee is finalising plans for an inquiry into employment rights in the workplace, which will, amongst other things, examine the risk [...]
Temu owner PDD shares plunge after profit warning August 27, 2024 Shares in Pinduoduo (PDD Holdings), the Chinese owner of discount retailer Temu, have plunged by nearly 29 per cent in New York in a move that has wiped $55bn (£41.6bn) off the company’s market value. The steep decline followed a warning from management about an impending nosedive in profits, causing investors to reassess the company’s [...]
Temu targets trademarked brands such as Dyson and Zara on Google and Bing June 14, 2024 The majority of these targeted brands are retailers, including Zara, Rayban, Dyson, Curry's, and Marks & Spencer.
Shein cash giveaways similar to Temu’s raise data privacy issues April 30, 2024 Fast-fashion giant Shein has launched a number of promotions on its app, such as "magic draw", "draw easily", "free gift", and "spin to win".
Temu: Chinese platform which encourages customers to ‘shop like a billionaire’ to rake in $40bn in Amazon challenge February 26, 2024 Temu, the ultra cheap Chinese retailer, is forecast to rack in $40bn (£31bn) in gross merchandise value (GMV), as it continues to spawn the western retail market.