Shein has increased prices by over a third on some core items, which is likely to boost revenues ahead of its anticipated IPO.
The fast fashion giant’s average price hikes surpassed those of fellow fashion rivals H&M and Zara, according to data from London-based research firm Edited, which compared prices on 1 June with those from a year earlier.
While Shein doesn’t disclose financial data publicly, Reuters reports that Coresight Research estimates its revenue will reach $50bn this year, up 55% on last year’s figure.
Increasing the prices of its core women’s clothing lines and attracting more external brands to sell on its site would boost the firm’s sales targets and profits.
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Shein’s planned London IPO is currently facing backlash from both politicians and some of the UK’s biggest fund managers due to concerns over workers’ rights.
The Singaporean-based fast fashion retailer is understood to have chosen London after it faced political pushback from New York.
The business is set to file the prospectus for its London IPO with the Financial Conduct Authority this month, Sky News reported, with the flotation unlike to happen until the autumn.
The timing of the filing does not necessarily indicate when Shein will IPO, with some spectators believing a summer or early autumn stock market debut on the London Stock Exchange remains on the table.
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