Fast-fashion giant Shein’s £50billion London listing rocked by Trump’s tariffs

FAST-FASHION giant Shein’s £50billion London listing is on shaky ground as investors assess the impact of hefty Trump tariffs.

A month ago, boss Donald Tang finally confirmed the worst kept secret in the City that it was .

But, the listing now faces a hurdle as wildly volatile markets will make investors more nervous about backing a business that faces hefty tariffs from the US.

A source quipped that any listing would be driven by an assessment of market conditions.

The US is s biggest market and it made an estimated £25billion in revenues in 2023.

On Wednesday, eliminated a loophole allowing firms including Shein to send small parcels from to the US without import duties.

From May 2, the imports will be charged on either 30 per cent of their value or $25 per item.

Shein previously brushed off concerns this so called “de minimis”; rule was critical to the success of the business.

Mr Tang said last month: “We’re about customers. We’re not about customs policy.”;

Rivals have argued that Shein has an unfair cost advantage by not paying the same import taxes as other retailers. About 1.34 billion shipments entered the US using the de minimis loop hole.

Zaki Farooq, Chief Technology Officer of Payfuture commented: “With Shein and rival alone accounting for nearly 600,000 daily US-bound parcels under this scheme, the impact on online retailers is massive.”;

Shein will also be hit by tariffs on Chinese imports to the US — as the President added 34 per cent of “reciprocal”; tariffs to an existing 20 per cent duties.

Trump’s additional levy will make selling cheap dresses, many of which Shein sells for under $10, far less profitable.

Investors had already reportedly been pressing Shein to lower its valuation to secure a listing. Shein declined to comment.

1 IN 3 SENT AN A.I. VALENTINE

GREETING card firm claims one in three Valentine’s Day cards sent this year were created using its tools.

The internet-based business said its “personal writing assistant”; is its secret weapon in “strengthening customer loyalty”;.

Customers can use the technology to write “the perfect message”;, the firm said. AI technology can also be used to generate personalised stickers for the inside of cards.

Nickyl Raithatha, Moonpig chief executive said: “By using technology, data and AI, we help our customers express themselves and connect with their loved ones — deepening engagement and strengthening loyalty.”;

The firm provided some much-needed cheer to the London stockmarket by unveiling a new £60million share buyback.

It also boosted its earnings forecast to the top of guidance and saw shares rise by three per cent.

The online retailer said it now expects to make between £350million and £353million in revenues after better than expected trading.

CURRYS ON FIRE

ELECTRICALS retail giant gave a spark to a depressed market yesterday by boosting its profit guidance for the second time in a year.

The chain has seen a surge in sales of new phones, laptops and gaming devices.

Boss Alex Baldock said that the introduction of artificial intelligence in iPhones and new laptops was prompting people to trade in old devices.

Currys said it now expects adjusted pre-tax profits to be around £160million this year, up from £155million.

Its shares leapt 14 per cent yesterday to 101.45p, vindicating the board’s decision to reject a takeover bid last year from activist investor Elliot.

MEDICAL BUYOUT

NHS landlord Primary Health Properties launched an audacious counter bid for its biggest rival Assura.

Assura, which owns more than 600 healthcare properties, had agreed a £1.6billion deal with buyout giant KKR.

But Primary, which owns 516 surgeries and medical centres, yesterday gatecrashed the takeover with a £1.5billion cash and shares offer.

It argued Assura investors could reap “significant strategic and financial benefits”; from combining the firms, which KKR could not offer.

Assura said it is considering the deal in light of the “board’s objective to maximise value for shareholders”;.

INFLATION FEARS AT CO-OP

BOSSES at the have warned of higher food inflation after the raft of extra costs from the Budget.

Chief executive Shirine Khoury-Haq said prices were “going the wrong way”; already as suppliers passed on higher staffing costs.

The Co-op said it faced a £50million hit from and another £30million from a new packaging levy.

But it said it was able to weather the increase in costs as it had spent the past three years trimming its workforce and adjusting the size of the business.

Yesterday, it posted an almost six-fold rise in profits from £28million to £161million.

Ms Khoury-Haq said she had urged ministers to stagger the additional costs, saying: “The government needs to look at the layering of all these costs.

“There will be an adverse impact on the high street and communities.”;

AMAZON ‘TIKOVER’

AMAZON has submitted an 11th-hour bid to buy s operations in the US.

A bid from reportedly was delivered directly to hours before Trump launched his global tariff war.

TikTok must shed its Chinese ownership by tomorrow or face a ban in the US under a national security law signed by the Biden administration.

Oracle founder Larry Ellison had been seen as the frontrunner for TikTok’s US business.