Business
Shein IPO aims for $27bn valuation — and Europe is key to its future
Shein is seeking a valuation of up to approximately $27 billion (€23.1bn) in its September flotation on the Hong Kong Stock Exchange, far below its reported peak of $100 billion in 2022. Europe is a key market, but new customs rules and regulatory scrutiny threaten its low-cost model.
EU.XL
Fast fashion: 69% of our clothes contain toxic chemicals
The European Union is implementing a new tax on imports, to limit purchases from fast-fashion e-platforms like SHEIN, Temu, and similar. Their bargain price tags hide a toxic reality, as testing reveals these ultra-cheap garments carry a hidden cost to human health.
Europe Today
Watch the video: European Commission vs Shein — let's unbox the probe
Everyone loves a good bargain. But what if your €3 t-shirt comes with extra baggage? It all started last year with a massive scandal in France. Authorities found illegal products, including a childlike sex doll, being sold on Shein. Now, the EU is stepping in.
Economy
France considers €2 fast-fashion import tax as EU drags its feet
The French parliament will debate a €2 fast-fashion import tax this week that will enter into force next year, as similar EU levy faces possible delays until 2028. The parliament could impose an additional €5 environmental levy on budget retailers down the line.
Shein is a Chinese clothing brand.