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 figures highlight the pressure on Shein as it seeks new funds amid higher costs, slower growth, and growing scrutiny in key markets. Read more at straitstimes.com. Read more…

Draft prospectus notes Q1 loss, EU tariff hit ahead of high-profile Hong Kong debut