Pins matching tag:Shein

The French National Assembly unanimously adopted, in first reading, a bill to curb "ultra-fast fashion" on 14 March 2024. The bill bans advertising for the cheapest, most disposable garments and creates a bonus-malus system funding penalties on the least sustainable clothing sellers.

Shein confidentially filed IPO papers with the UK's Financial Conduct Authority in early June 2024, sources told Reuters, seeking a London Stock Exchange listing reportedly worth around £50 billion. The filing still needed sign-off from China's securities regulator before Shein could proceed.

President Trump ended duty-free de minimis treatment for shipments worth $800 or less from China and Hong Kong at 12:01 a.m. EDT on 2 May 2025. The change subjected packages from platforms such as Shein and Temu to full customs duties and formal entry.

The EU's Consumer Protection Cooperation Network, coordinated by the European Commission and led by authorities in Belgium, France, Ireland and the Netherlands, notified Shein on 26 May 2025 that practices on its platform, including fake discounts, breach EU consumer law. Shein was given one month to propose fixes.

Shein confidentially filed a draft prospectus with the Hong Kong Stock Exchange in mid-2025 after its London listing stalled without approval from Chinese regulators, having already released the communications firms it had hired to support the London plan. The switch set up a Hong Kong-only listing a year later.

France's competition and fraud authority, the DGCCRF, fined Shein €40 million on 3 July 2025 after a year-long investigation found most of its promoted discounts were not genuine price reductions. It also found Shein could not justify environmental claims made on its site.

The United States ended duty-free de minimis treatment for low-value shipments from every country at 12:01 a.m. EDT on 29 August 2025. The change extended to the rest of the world an exemption's end that had applied only to China and Hong Kong since May, subjecting packages worth $800 or less from retailers such as Shein and Temu to ordinary customs duties.

France's government said on 5 November 2025 that it was suspending Shein's e-commerce platform in the country after the DGCCRF found the marketplace selling sex dolls "with a childlike appearance." Economy Minister Roland Lescure had warned two days earlier that Shein could be barred from the French market entirely if such listings recurred.

Shein opened a permanent corner covering more than 1,000 square metres on the sixth floor of the BHV Marais department store in Paris on 5 November 2025, its first physical store anywhere in the world. The opening drew protests and a heavy police presence.

A Paris judicial court ruled on 19 December 2025 that Shein would not have to suspend its French website for three months, rejecting the government's bid to enforce a shutdown sought after the platform's childlike-sex-doll listings. The court instead ordered Shein to add genuine age verification for adult products.

France's Senate cast the final vote on 29 June 2026 to definitively adopt the anti-fast-fashion law targeting Shein and Temu, after the National Assembly's own final vote on 24 June and a joint committee compromise reached on 17 June. The law introduces a rising eco-penalty on ultra-fast-fashion garments, from €5 today to €10 by 2030, capped at 50% of the pre-tax price.

EU member states reached political agreement on 13 November 2025 to scrap the €150 customs-duty exemption for low-value parcels earlier than originally planned. The exemption ends and a flat customs duty on direct-to-consumer packages begins on 1 July 2026, targeting the flood of parcels shipped directly to EU shoppers by platforms such as Shein and Temu.

Shein's shares fell 9% in their Hong Kong Stock Exchange trading debut on 1 September 2026, after an IPO that raised about HK$13.60 billion ($1.74 billion) at HK$48.56 a share and valued the fast-fashion retailer at roughly $26.5 billion. That is close to a quarter of the $100 billion valuation Shein commanded in a 2022 private funding round.