METAVERSE FASHION COUNCIL’s Post

SHEIN CONFIDENTIALLY FILES FOR IPO IN LONDON WITHOUT SUPPORT OF THE BRITISH FASHION COUNCIL Zofia Zwieglinska for Glossy 💰 SHEIN confidentially filed on the London Stock Exchange on Monday. The company filed papers with Britain’s Financial Conduct Authority (FCA) in early June, initiating the process for a potential London listing later this year, according to Bloomberg.  🗞 Valued at $63 billion, Shein had initially considered listing in New York but faced opposition from U.S. lawmakers. The company’s decision to list in London comes amid a backdrop of high digital marketing expenditures industry-wide and strategic adjustments for Shein after it was not admitted to the U.S. stock exchange. Shein declined to comment for this story.  🔖 Shein is now trying to sell its production system as a B2B solution. Jewell said doing so could provide the company with a competitive edge in the fashion IPO market. 📒 Caroline Rush, the BFC’s chief executive, conveyed her apprehension surrounding the IPO in a statement in June. “At a time when global fashion leaders are rightly focused on making our sector more socially, environmentally and economically sustainable, the Government’s courting of Shein to list on the London Stock Exchange, and Shein’s decision to do so, is of significant concern to U.K. fashion designers and retailers,” it read. Today, in a Glossy-exclusive interview, she said, “Fashion businesses, including Shein, must embrace corporate due diligence in their supply chains. The BFC would encourage the U.K. government, the Financial Conduct Authority and the London Stock Exchange to ensure that any business listing in London is an active, responsible leader in this regard and is able to evidence addressing compliance and sustainability concerns in all areas, from worker treatment to material sourcing to citizen engagement in disposable fashion.” 📧 However, the U.K. financial market has been sluggish, with fewer IPOs and a need for significant listings to revive interest. Shein’s potential IPO could provide a much-needed boost. From here, Shein’s IPO process will involve a detailed review of its financials by the FCA and approval from the China Securities Regulatory Commission (CSRC). Once cleared, Shein will publicly file an intention to float on the London Stock Exchange, initiating a four-week process of book building and price guidance before trading begins. Overall, this step by Shein represents a pivotal moment for the fast fashion industry. As Jewell said, “This IPO is not just about raising capital; it’s about positioning Shein for future growth and addressing the significant challenges in the fast fashion sector.” 📪 LEARN MORE: https://lnkd.in/gpybNnEC #ai #metaverse #fashion #web3 #investment

SHEINADDS STRUGGLING UK BRAND MISSGUIDED TO ITS FASHION EMPIRE TechCrunch SHEIN, the fast fashion giant that has thrived on its nimble supply chain in China, is expanding its product range by scooping up competitors. In a statement released on Monday, the Singapore-headquartered firm announced its acquisition of Missguided, a struggling fashion brand based out of Manchester, U.K., for an undisclosed amount from Fraser Group. This confirms a report by Sky News in September that Shein was in talks to buy Missguided. Shein’s investments in the distressed British firm mark a significant shift in power dynamics in the fast fashion landscape. Once dominated by Western brands, the industry is now gravitating towards companies like Shein that have established strong ties with Chinese manufacturers. These partnerships, combined with Shein’s supplier software that matches factory capacity with real-time demand, allow the fashion giant to respond swiftly to consumer behavior and keep inventory costs down. This on-demand manufacturing approach catapulted Shein’s valuation to $100 billion in April 2022. But the firm’s price tag was reportedly slashed to $64 billion earlier this year as it sought $3 billion in new funding. As of October, Shein claims it has “150 million global users.” Time will tell if Shein will be able to apply its success formula to revitalize the besieged Missguided brand. Once hailed as a trailblazer in online fashion alongside the likes of Asos, Boohoo and PrettyLittleThing, Missguided enjoyed rapid growth during the pandemic but has struggled since the reopening of physical stores. Following the deal, Missguided’s founder Nitin Passi and Shein is forming a joint venture that gets access to Missguided’s intellectual property under a licensing agreement. Shein will take over the manufacturing and distribution of products from the joint venture. The Missguided buyout came just two months after Shein said it had bought a minority stake in the operator of the California-based fast fashion pioneer Forever 21, which filed for bankruptcy in 2019 but has continued to operate under new owners. On the heels of the investment, Shein will design, manufacture and distribute a line for Forever 21. https://lnkd.in/daEKd2rt #fashion #business #investment #ai #ar #vr #metaverse

China founded & popular United States fast fashion SHEIN plans for UK IPO on London Sock Exchange.  In 2023 December, SHEIN filed for a United States IPO with reported $90 billion valuation. Read - https://lnkd.in/ghm6jDja follow Caproasia | Driving the future of Asia China founded & popular United States fast fashion SHEIN is planning for a UK IPO on London Sock Exchange.  In 2023 December, SHEIN had filed for a United States IPO with reported $90 billion valuation.  SHEIN is founded in 2012 by Sky Xu Yangtian with website SheInside.com registered in 2011 and name changed to SHEIN in 2015.  In 2022, Shein relocated HQ to Singapore with Roadget listed as the legal entity operating the global website. Sky Xu Yangtian is a billionaire and has an estimated fortune of $12 billion. SHEIN is a global fashion and lifestyle e-retailer committed to making the beauty of fashion accessible to all. We use on-demand manufacturing technology to connect suppliers to our agile supply chain, reducing inventory waste and enabling us to deliver a variety of affordable products to customers around the world. From our global offices, we reach customers in more than 150 countries.  Also in December 2023, China Pinduoduo low-cost online retailer Temu filed a new lawsuit against SHEIN for copyright infringement and taking illegal actions on merchants (detain merchants, access merchants accounts, force merchants to leave Temu etc) to slow Temu growth in United States.  In October 2023, Temu & SHEIN had agreed to drop lawsuits against each other (copyright & anti-trust). 

China founded & popular United States fast fashion SHEIN plans for UK IPO on London Sock Exchange.  In 2023 December, SHEIN filed for a United States IPO with reported $90 billion valuation. Read - https://lnkd.in/gWxTbGST follow Caproasia | Driving the future of Asia China founded & popular United States fast fashion SHEIN is planning for a UK IPO on London Sock Exchange.  In 2023 December, SHEIN had filed for a United States IPO with reported $90 billion valuation.  SHEIN is founded in 2012 by Sky Xu Yangtian with website SheInside.com registered in 2011 and name changed to SHEIN in 2015.  In 2022, Shein relocated HQ to Singapore with Roadget listed as the legal entity operating the global website. Sky Xu Yangtian is a billionaire and has an estimated fortune of $12 billion. SHEIN is a global fashion and lifestyle e-retailer committed to making the beauty of fashion accessible to all. We use on-demand manufacturing technology to connect suppliers to our agile supply chain, reducing inventory waste and enabling us to deliver a variety of affordable products to customers around the world. From our global offices, we reach customers in more than 150 countries.  Also in December 2023, China Pinduoduo low-cost online retailer Temu filed a new lawsuit against SHEIN for copyright infringement and taking illegal actions on merchants (detain merchants, access merchants accounts, force merchants to leave Temu etc) to slow Temu growth in United States.  In October 2023, Temu & SHEIN had agreed to drop lawsuits against each other (copyright & anti-trust). 

“Chinese-founded fast-fashion retailer Shein acquired British online fashion brand Missguided from Frasers Group Plc, as the Singapore-based fashion giant continues to expand overseas. Under the deal, Shein and Missguided’s founder Nitin Passi have formed a joint venture to manage the brand and access its intellectual property under a licensing agreement. Shein will also manufacture Missguided’s products through its on-demand production model, and sell on both companies’ websites, Shein said in a statement. Founded in 2009, Missguided was on the brink of bankruptcy in 2022 due to a debt crisis and was acquired by Frasers Group for £20 million ($24.3 million). Shein’s executive chairman Donald Tang said in the statement that the company aims to reignite the Missguided brand and fuel its global growth through Shein's on-demand production model, proven online experience and global reach. The deal came after Shein’s acquisition of a stake in rival fast-fashion retailer Forever 21 in August.” “Last week, Shein entered a long-term strategic partnership with New York-based Authentic Brands Group, which owns Forever 21. Under this agreement, Shein will design, manufacture and distribute a line of Forever 21 apparel and accessories that will be co-branded as Forever 21 x Shein. Earlier this month, Shein held its first four-day pop-up event at a Forever 21 store at the Ontario Mills mall in Ontario, California. Also founded in 2009, Shein has disrupted markets globally and grown to become one of the world’s biggest fast-fashion brands with its ultra-affordable clothing and accessories. The retailer, which produces the majority of its products in China, has faced slowing growth since the second half of 2022 amid weaker demand and competition from rival retailer Temu, an online marketplace backed by Chinese e-commerce firm PDD Holdings that has been marketing aggressively in the U.S.” “Shein’s sales growth slowed to 98% in the second half of 2022 from 208% in the same period a year ago. Temu sued rival Shein in July, alleging it violated antitrust laws by using threats and intimidation to block clothing manufacturers from working with Temu. Shein also faces compliance risks in overseas markets, especially the U.S. In mid-April, the U.S.-China Economic and Security Review Commission (USCC), a U.S. government agency that advises Congress, issued a scathing report on concerns over personal data risks and exploitation of trade loopholes by Chinese fast fashion e-commerce firms. As it faces growth headwinds, Shein urgently needs new growth drivers. The collaboration between Shein and Forever 21 will be just a beginning, said Jamie Salter, founder and CEO of Authentic Brands Group. Frasers Group also said it’s in discussions with Shein on further collaboration.”

Instant fashion wins. Society loses. Estimates that SHEIN grew by 20X since entering the US market to $30 billion were off - BY 50%. According to information seen by the Financial Times, Shein’s 2023 revenues were closer to $45 billion, or 30X growth in six years. That equates to a compound annual growth rate of close to 75%. 👗Offering > 5K new styles per day at an average price point of $7.90 (as of 2021 according to Business Insider)…Shein is producing and shipping over 5 billion garments per year….almost 2/3 of which are made from polyester….leading to #microplastic shedding and leaking methane (which is 80X more damaging that CO2, albeit for a shorter time horizon) from landfills for generations. 💵 Shein’s IPO filing has yet to be approved by the SEC. This may be due to the company’s skirting the de minimus rule (and thus, paying no tariffs on shipment imports where Gap pays $700m, for example), investigations that have reported use of forced labor and banned Chinese cotton, and / or investigations that revealed untoward working conditions in Shein contractor factories, or geopolitics. 🌲And, yet, as I wrote in an article in Harvard Business Review (“The Lingering Costs of Instant Fashion) Shein is targeting a $90 billion IPO (likely in London) with substantial payouts for its financial sponsors (including General Atlantic, Sequoia Capital China, the Abu Dhabi sovereign wealth fund and others)…while the environment suffers, further. To change behavior, change the rules. Rachel Arthur Maxine Bédat Leslie Johnston Brett Mathews Elizabeth Segran, Ph.D. Livia Giuggioli Firth Joel Makower Joseph Zwillinger Jessica Quillin, PhD Sucharita Kodali Tim Mohin Tricia Carey Saqib Sohail Matthew Kilgarriff Michael Beutler Lutz Walter Evan Wiener Grace Zuncic John Elkington https://lnkd.in/eRXinnYT

In a world which is environmentally struggling and the Used Textiles Industry struggling due to fast fashion like Shein, this is appalling and they should be stopped, Taxed heavenly!!! So why is the UK government allowing this, why is Shein and other fast fashion brands not paying for the waste they are producing and selling so cheaply. Who is listening, we need a change of thinking, we need action now, not in 10 years when its to late. UK Government ACT NOW!!!!! UK Waste Textiles market need support, we need education for the public, we need licensing, taxes and soo much more 😠 😡 #Wastetextiles #UsedTextiles #Governmentaction

#FastFashion is predatory every which way you slice it, including the calculated leveraging of manipulative social media practices. The Gen Z and Millenials fueling this craziness are literally fashion victims, addicted to the endorphin hit of affordable coolness. At least cigarette packs come with a warning label. H’mmm… Ok, friends in Brandland, an assignment: Design a warning lable for Fast Fashion. Note that since SHEIN ads now make up a signifciant percentage of Meta and Google ad revenues, those companies need it to keep their stock prices up, so there is a tangle of investor-driven venality going on. Big Oil LOVES this. The polyester fiber market, roughly $80 billion in 2022, is expected to double to $160 billion by 2032. Now add plastic packaging. Now add aviation fuel, since loads of this is shipped by air freight from China (injected CO2 directly into the upper atmosphere). As part of the brief, make it cool for Gen Z and Millenials to rebel. It’s their future on the line and they are being played. More here: (“Fashionably Foolish: https://lnkd.in/gh8ztbfm) Brian Collins Prof. Jonathan A.J. Wilson PhD DLitt Robert C. Wolcott Joseph Han Cas Malo Tom Elia Scout Driscoll Jordan Mozer Taamy Amaize Betsy Vardell Jessica Helfand Steven Heller Dan Vlahos, AIGA DL Debbie Millman Scott Galloway Tensie Whelan Amy Larkin

Shein, the fashion disruptor founded in Nanjing, China in 2012, has made waves in the industry with its affordable and trendy clothing, establishing itself as one of the world's most popular fashion brands. The Singapore-based company, valued at approximately $66 billion in a fundraising round last May, has now filed to go public in London, according to sources familiar with the matter. The decision to list in London comes after facing challenges in plans to list in New York, showcasing the complexities for China-linked companies amid today's geopolitical landscape. Shein, operating in over 150 countries but not in China, relocated its headquarters to Singapore from Nanjing in 2021. The company has taken steps to diversify its supply chain, bringing in Western executives to enhance its leadership and compliance efforts. Shein's innovative on-demand manufacturing model, involving small-batch production and collaborations with numerous factories, enables it to offer a vast array of affordable apparel while swiftly adapting to changing consumer preferences. This move towards an IPO in London marks a significant development for the fashion giant as it continues its global expansion and strategic evolution. Source: WSJ

When there is enough money in the hands of a company, it’s more than a simple success story, it’s a step into power. We are part of a trillion dolllar industry. Those of us in the industry have seen what that can look like. Greed is an ugly thing. It also pains me when people say, yes I’m not surprised they didn’t make it. It’s not an easy industry to achieve success. This article is hair raising; a winner take all maneuver cloaked in “it’s just business” and grumblingly some feel but don’t say, well maybe this will have a trickle down effect on everyone seeking to revive the retail model for better industry economics. But, we also have worked inside this type of leadership mindset. It’s a new age and a new generation where people dictate much of this demand. If there is no demand for fast fashion - that business will never work. So the big ask is what can we do differently to teach more people and emotionally connect (fellow brand experts) to finally push the shift toward more conscious consumerism, while still kee up profitability? “Great product, great price, value aligned mission and seamless experience.” Eric Benarouche I agree that legally the industry is not doing its part to draft but also regulate laws to protect us and this planet from overconsumption. It’s capitalism run amuck. The magic lies though in the people if we could just wake up to the future that’s here. Peer to peer shopping, creator commerce. Annelies Jansen At ari we saw how much industry uncomfortability it created to build let alone talk about its democratization. I feel you Geren Lockhart and we need a collective pact, and powerful global campaign led by industry leaders and out own funds and ventures to fight the good fight. We also need to give the successful midsized businesses the resources and structure to grow at a competitive market rate. This market is crazy right now we all know. But this is a great time for an industry pivot. I can see it.