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A view of a Shein pop-up store at a mall in Singapore April 4, 2024.  Edgar Su | Reuters Shein’s ultra-cheap clothes can remain affordable as long as proposed tariffs from President Donald Trump are “applied equally,” the company’s executive chairman Donald Tang said on Thursday.  “Affordability is a big anchor. … It’s the whole package of it, it’s a value for [your] money,” Tang told CNBC’s Sara Eisen during an interview at the World Economic Forum in Davos, Switzerland. On the campaign trail, Trump had proposed tariffs as high as 60% on imports from China – where Shein primarily manufactures its clothes. He has since softened that stance and has suggested a 10% tariff instead.  When asked if Shein will still be able to provide its ultra-low prices if tariffs take effect, Tang didn’t address whether the company would raise prices but suggested that it’d still be able to remain competitive as long as China doesn’t see higher tariffs than other regions.  The fast fashion company has been on a meteoric rise over the last few years and had been planning for a U.S. IPO but ultimately scrapped those plans and turned to London when political sentiment soured on the Chinese-born company.  When asked about its plans for a London public offering, Tang declined to comment but explained why the company wants to be public.  “Being a public company embraces the very universal and unique mechanism for accountability,” he said, adding that public trust is “crucial” for long-term growth. Source: https://www.cnbc.com/2025/01/23/shein-exec-donald-tang-trump-tariffs.html

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Filed under: News - @ January 23, 2025 6:26 pm