Market observers note that the FCA review process has dragged on longer than usual, raising doubts in the City's financial circles.
Shein was valued at $66 billion in its latest funding thailand telephone number round , so a potential 10% stake in Shein would be worth around $6.6 billion, easily eclipsing Puig's $2.9 billion valuation, which is currently the highest in Europe this year.
At the company's current valuation, even a minimal public offering would be a major event on the London market.
Strategic turn and growth trajectory
The Singapore-based company turned its attention to London after US lawmakers thwarted its New York plans.
This move shows that London is becoming an increasingly attractive alternative location for international companies that are facing difficulties in other markets.
Despite the regulatory maze, business is booming: US$100 million, reflecting the company's rapid growth in the fast fashion sector.