The fashion giant reported a transition to a $99 million loss and a sharp drop in profitability in its IPO prospectus, driven by customs levies and growing competition.

The retailer won approval from China for its Hong Kong listing on July 10, clearing the way for a listing after failed attempts in New York and London.

The retailer won approval from the China Securities Regulatory Commission for its Hong Kong listing on July 10, clearing the way for a listing after failed attempts in New…