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Posted on 05/02/2025 2:31:06 PM PDT by nickcarraway
Online fast-fashion retailer Shein has dropped Brunswick and FGS, two communications firms that were supporting its push for a London initial public offering (IPO), a source familiar with the matter confirmed on Friday, in the latest sign the flotation is not going to plan.
Steep tariffs on Chinese goods imposed by U.S. President Donald Trump, along with the removal of a duty exemption on low-value ecommerce packages, are challenging Shein's business model, which relies on shipping clothes from factories in China directly to customers around the world.
Brunswick was assisting with media relations while FGS was tasked with government relations, and both of their contracts with Shein ended on April 30 and will not be renewed, the source said. The news was first reported by The Times.
(Excerpt) Read more at aol.com ...
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I am supposed to get my last shipment from Ali Express today.
Most of the vendors on site will not ship to me now. Not that I am trying, because the taariffs hit soon.
Don’t know why this affects a IPO in Britain for Shein. President Trump’s tariffs don’t hit there...
Maybe they buy their products from tariff effected countries.
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