Shein profits slump in fresh challenge to long-planned London IPO
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.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 this decade.The Singapore-based group’s net profit shrank by almost 40 per cent to $1bn in 2024 as it suffered a difficult final quarter and battled competition from rival Temu, t...
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