Fast fashion giant Shein is under pressure to cut the valuation of its planned London stock market listing further, according to reports.
The retailer has been in talks over an initial public offering (IPO) on the London Stock Exchange over the past year.
Bloomberg reported on Monday that investors in the group are pressuring the firm to float with a valuation of around 30 billion US dollars (£23.8 billion).
It came after reports last month that the company was looking at a valuation of 50 billion dollars (£39.7 billion), which already represented a reduction on a previously reported 66 billion dollar (£52 billion) valuation.
The fresh reports suggested that investors believe an adjustment is needed to help get its potential initial public offering in the UK over the line.
Shein, which was founded in China but is now based in Singapore, has seen efforts to float face a variety of obstacles, including political pressure in the UK over alleged supply chain and labour abuses.
Current efforts to list the company now face further challenges from US President Donald Trump’s administration.
The reported reduction in valuation is largely linked to Mr Trump’s crackdown on tariff-free imports of small goods from China.
The administration is planning to scrap the de minimis rule, which means goods under 800 dollars (£635) in value are exempt from tariffs, and would introduce an additional 10% tariff on all goods from China.
Shein and rivals including Temu have allegedly benefitted from transporting products in small packages in order to avoid significant taxes.
