Shein looking to open UK warehouse - report
Chinese fast fashion giant Shein is reportedly preparing to open its first British warehouse in preparation for a £50bn listing on the London Stock Exchange.
According to The Telegraph, the Singapore-headquartered company is looking for a large site within the Midlands’ so-called "golden logistics triangle".
It is targeting buildings measuring between 300,000 and 400,000 sq ft, although it was understood to be open to options as large as 600,000 sq ft.
The Telegraph said Shein has dispatched a team of representatives to the UK to visit potential warehouses in the past few months, with around 10 viewings including sites in Derby, Daventry, Coventry and Castle Donington. It was understood to prefer a building that is already fitted out to handle ecommerce operations, rather than building its own site.
Any decision on a warehouse will depend on the outcome of its efforts for a blockbuster debut in London’s stock market, as well as negotiations with its existing third-party provider, Super Smart Service, which handles the company’s UK orders from a Cannock warehouse.
Shein has held talks with senior British politicians about its proposed listing, which would be the biggest float in London for a decade and could help to reinvigorate the flagging stock market.
Shein has reportedly enlisted property agents JLL and Savills to advise on its search. It broadly intends to make a final decision on a location towards the end of the year, with warehouse operations going live by the third quarter next year, The Telegraph said.
A Shein spokesman told the newspaper: "To support the growth of the business, Shein is actively exploring warehousing locations worldwide. However, Shein has no immediate plans to acquire warehouse space in the UK."