Hong Kong – Fast-fashion giant Shein Group is reportedly considering moving its headquarters back to China as it seeks Beijing’s approval for a planned Hong Kong initial public offering (IPO).
According to a Bloomberg report citing people familiar with the matter, Shein—currently headquartered in Singapore—has consulted lawyers about setting up a parent company in mainland China. The talks are still at an early stage, and there is no certainty the move will go ahead, the sources said.
The shift is seen as part of Shein’s push to secure regulatory approval after failed attempts to go public in New York and London. The company has now applied for a Hong Kong listing through a confidential filing, making Chinese approval critical for its plans to proceed.
Although based in Singapore, Shein remains under the oversight of Chinese regulators. The China Securities Regulatory Commission (CSRC) requires companies with strong business ties to the country—even if incorporated abroad—to undergo review before pursuing overseas listings.
Shein’s heavy reliance on China’s vast garment manufacturing supply chain further ties the company to Beijing. Bloomberg previously reported that the CSRC’s refusal to approve a London listing was a key reason Shein turned its IPO ambitions toward Hong Kong.
If the new Chinese parent entity is formed, Shein’s Singapore headquarters and all overseas units would become subsidiaries, the report added.
According to Bloomberg, the company has declined to comment regarding this matter.
In 2024, Shein confirmed to MARKETECH APAC that it had laid off 17 staff in Singapore, even as reports surfaced about its IPO ambitions at the London Stock Exchange.
