Shein Group has raised its prices, with some of its top products being upped by over a third as the Chinese fast-fashion giant prepares itself for a London IPO.
Prices at the company rose at a faster rate than its high-street rivals H&M and Zara in a bid to boost its revenue before its £50 billion listing, research from retail intelligence company Edited found.
Famed for its low prices that undercut both high street retailers and European rivals, analysts said the price cuts were part of the company's plan to demonstrate its ability to charge more ahead of a float.
Examples of the price rises include a Shein dress which rose to £24.12 in the UK, increasing by 15% in a year, while the same product in Germany, Italy and France lifted by 36%.
“If they can demonstrate that these prices stick then the valuation increases significantly," Alex Romanenko at Pearson Ham Group said to Reuters in an interview.
New research also highlighted that talk of Shein's listing in the UK has caused a 45% rise in its customer base in the country since the start of 2024, according to GWS Magnify.
As of May this year, Shein had around 10.5 million monthly users in the UK, marking a 28% rise in the last twelve months.