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Shein expands to Singapore making its satellite its centre
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Posttime:2022-02-22
CHINESE fast-fashion giant Shein is expanding to Singapore after making a Singapore-based business its de facto holding company, reports Reuters.
According to a document, Chris Xu, Shein's founder and CEO, has also been granted permanent residency in Singapore.
Shein, which Mr Xu started in 2008 in Nanjing and has since grown into a global fashion marketplace, last year de-registered its main business, Nanjing Top Plus Information Technology, a Chinese corporate filing shows.
The developments are in line with what has previously been reported by Reuters, which are revived plans by Shein to list in New York this year and Xu looking at a change in citizenship to bypass tougher Chinese rules for offshore IPOs.
source:{非本站网址}
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