Profit from lowering the fresh call for the long -planned London IPO

Unlock Digest Editor free

Halef’s roller, FT editor chooses his favorite stories in this weekly newsletter.

Shane’s profits fell more than a third last year, adding to the problems of Fast Fashion Group on the eve of a long -planned flotation, which would be one of the largest on the London exchange of this decade.

The net profit based in Singapore decreased by almost 40 percent to $ 1 billion in 2024, as it suffered a difficult quarter and fought with the competition from the Temu competitor, two people who knew the case, Financial Times reported.

According to the people, the sale for the whole year increased by 19 percent to $ 38 billion, one of which added that the figures were from the domestic forecasts ahead of the finalized accounts.

As a private company, Shane does not publish on profits, but the 2024 figures were much lower than $ 4.8 billion in net profits and $ 45 billion, the company predicted 2024 in the presentation of investors in early 2023, which was spotted .

Shane did not respond to a comment request.

The lower income emphasizes Shane’s problems because he is trying to win a regulatory permit for the London list and navigate the geopolitical changes that have been pressure on its assessment.

According to two people, acquaintances with the situation, Shane was estimated at $ 66 billion to reduce the estimation of up to $ 30 billion with the initial public proposal in the first half of this year.

Shane, which comes with cheap clothing made at Chinese factories directly for buyers around the world, previously told investors that the list could happen in April, people who know the discussion report.

But IPO can now be put out in the second half of this year after the decision of the US President Donald Trump on the strengthening of the tariff release used by Shane when it sells US customers, two people familiar with this process report.

Trump this month completed DE MINIMIS RULE, which allows you to import packages of less than $ 800 in the US without duty. He also got into Chinese goods with additional 10 percent tariffs.

Introducing the change de minimis stops but Analysts are waiting This is to increase the prices for the goods sold Shane and the topic.

The delay to the IPO in the second half of the year would make the campaign to recycle fresh documents with the UK regulators.

Last year, Shane provided the IPO confidential documentation with British regulators before introducing new UK list rules. However, the transition period to complete the IPO processes that started before launching new rules will end in July.

The designation will be largely a procedural step, said three senior UK corporation lawyers, but the prospect that the company will miss the window for leaning on its original feed, emphasizing how its efforts have been listed.

Shane first launched plans to publicize in New York at the end of 2023, but went to the UK after the US Securities and Exchange Commission was twisted. His list deepened against the backdrop of uncertainty whether he will receive approval from regulators in London and Beijing.

The drop of profits in Shein comes when the group struggles with the topic that has repeated its cheap Chinese delivery model for buyers abroad. The topic won some Shane suppliers in China, while competition also raised Shane Costs on freight transportation and Marketing costs.

At the end of 2023, Shane responded to the threat of the topic, briefly diversified by the fashion reported about the information previously reported, Shane’s profitability. Since then, Shane has been reorienting the main business.

Lat relationship Money to lobby for efforts in Western capitals from Washington to London, including hiring Trump’s loaner porridge to become a consultant of his maternal company Elite Depot. The pan resigned as a consultant on the eve of his recent confirmation of the FBI director, but retained stocks in the company that cost from 1 to $ 5 million.

Additional Ivan Levingstan Report