EU tariffs on cheap China parcels force Shein to lower its Hong Kong IPO valuation

Shein is expected to accept a lower valuation ahead of its planned Hong Kong stock market debut following new EU tariffs on cheap parcels from China, Reuters reported on Thursday. The duties threaten to slow the fast-fashion giant's growth in Europe and dampen investor sentiment. To offset the impact, Shein is expanding its logistics operations, including a warehouse in Wrocław, Poland.