Shein reportedly expands Singapore office, relocates administrative home

Chinese e-commerce retailer Shein has reportedly taken steps to aggressively expand its Singapore office after making the branch its defining holding company.

Established through an analytical report by Reuters and its anonymous sources, the move could fall in line with previously unveiled plans to list Shein in New York this year, with its CEO and founder, Chris Xu, also potentially looking to change citizenship in an attempt to bypass strict Chinese rules on offshore IPOs.

As suggested in corporate filings uncovered by the publication, Shein deregistered its main business last year and has since been registered at a Singapore-based business, Roadget, which lists Xu among its representatives. Since late 2021, the firm has reportedly been the legal entity operating Shein’s global website.

Additionally, Shein’s LinkedIn page now indicates Singapore as its headquarters.

The fast-fashion company did not address Reuters directly on the matter, only confirming it had centres of operations in China, Singapore and the US. It also could not comment on Xu’s current permanent resident status or whether he is seeking Singapore citizenship.

However, sources told Reuters that the company is planning on quadrupling its Singapore employees by the end of the year, with the firm currently advertising for staff in human resources, marketing and IT.

While the expansion aims to support the company’s growth in the Southeast Asian market, its decision to move to the location could largely be due to the current trading tensions between China and the US. It mirrors similar decisions made by a number of large Chinese firms over the years to uproot, with many attracted to the potential of US investors.