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Shein has increased its prices by over a third on some core items in an attempt to boost revenues ahead of its anticipated IPO on the London Stock Exchange.
According to Reuters, Coresight Research estimates Shein’s revenue will reach $50bn (£39m) this year, up 55% on last year’s figure.
The company’s average price hikes have surpassed those of fellow fashion rivals H&M and Zara.
Upping 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, Reuters said.
It comes as the company prepares to launch a potential IPO on the London Stock Exchange.
The Singapore based business is set to float in London after political pushback over a potential New York flotation.
The move would mark London’s most high-profile public float for more than a decade.
Last month, it was reported that Shein was ramping up its move towards a London IPO after its attempt to float in New York faced regulatory hurdles.
One source said that Shein planned to update China’s securities regulator on changing the IPO venue and file with the London Stock Exchange.
According to previous reports, the fast-fashion company started exploring the London option earlier this year in case US regulators blocked the option of a US flotation due to its ties to China.
Retail Sector has contacted Shein for comment.
