View of the Shein pop-up store in a shopping mall in Singapore on April 4, 2024.
Sue Edgar | Reuters
Shein’s ultra-cheap clothing can remain affordable as long as President Donald Trump’s proposed tariffs are “applied equally,” the company’s executive chairman, Donald Tang, said Thursday.
“Affordability is a big pillar… that’s what it’s all about, it’s value for money,” Tang told CNBC’s Sarah Eisen in an interview at the World Economic Forum in Davos, Switzerland.
On the campaign trail, Trump proposed imposing tariffs of up to 60% on imports from China – where Shein mainly makes its clothing. He has since softened that stance and It is recommended to impose a 10% tariff.
Asked whether Shein would still be able to offer ultra-low prices if tariffs go into effect, Tang did not answer whether the company would raise prices but said it would still be able to remain competitive with higher tariffs than elsewhere as long as China doesn’t raise prices.
The fast-fashion company has risen rapidly over the past few years, Planned an IPO in the United States But those plans were ultimately abandoned Turn to London when political sentiment took hold on the Chinese-born company.
When asked about plans for a London public offering, Tang declined to comment but explained why the company wanted to go public.
“As a public company, you have very pervasive and unique accountability mechanisms,” he said, adding that public trust is “critical” to long-term growth.
