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Shein’s plans to go public in the UK are likely to be delayed until the second half of the year due to the U.S. government’s move to eliminate the de minimis import rule, the Financial Times reported. The fast-fashion giant initially aimed for a London listing in the first half of 2024, pending regulatory approvals from the UK and China.
The de minimis exemption, which waived import duties on shipments under $800, allowed Shein to keep prices low in the U.S., its largest market. However, former U.S. President Donald Trump recently announced plans to remove this provision as part of a broader tariff hike on Chinese imports, imposing an additional 10% duty. This change threatens Shein’s profitability and may lead to higher prices for U.S. consumers.
According to analysts, the removal of de minimis could significantly impact Shein and rival Temu, which together accounted for over 30% of daily U.S. package shipments under the rule. The fast-fashion retailer had previously suggested that a London IPO could happen as early as Easter, but the latest trade developments have cast uncertainty over its timeline.
In addition to regulatory challenges, Shein is reportedly lowering its valuation for the potential IPO to around $50 billion—down nearly 25% from its $66 billion valuation in 2023. The move reflects growing headwinds for the company as it navigates economic and political pressures.
Shein has yet to comment on the latest developments. The company’s ability to adjust to shifting trade policies will be crucial in determining its future market position and IPO prospects.
