Posted: Saturday, August 31, 2024. 12:51 pm CST.
By Zoila Palma Gonzalez: Fast fashion giant Shein has raised prices on some key products by over a third as it prepares for its upcoming IPO.
The price hikes, which have affected core items like women’s dresses and footwear, aim to boost revenue and profit margins before the company’s stock market debut, Reuters report.
Shein’s price increases, which have exceeded those of competitors H&M and Zara, come as it anticipates $50 billion in revenue this year, up 55% from last year.
The U.S., Shein’s largest market, saw a 28% increase in the average price of women’s dresses to $28.51.
The company is also expanding its range with more external brands, like Skechers, contributing to higher average footwear prices.
As Shein adjusts to the costs of being a publicly listed company and new EU regulations, its ability to sustain these price increases will be closely watched by investors.
The company is targeting a valuation of around £50 billion for its London listing.
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