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From Charles to Derby, Day for Fancy Hats to Rule

Singer Katy Perry is photographed after the coronation ceremony of Britain's King Charles III at Westminster Abbey in London Saturday, May 6, 2023. (AP Photo/Kirsty Wigglesworth, Pool)
Singer Katy Perry is photographed after the coronation ceremony of Britain's King Charles III at Westminster Abbey in London Saturday, May 6, 2023. (AP Photo/Kirsty Wigglesworth, Pool)
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From Charles to Derby, Day for Fancy Hats to Rule

Singer Katy Perry is photographed after the coronation ceremony of Britain's King Charles III at Westminster Abbey in London Saturday, May 6, 2023. (AP Photo/Kirsty Wigglesworth, Pool)
Singer Katy Perry is photographed after the coronation ceremony of Britain's King Charles III at Westminster Abbey in London Saturday, May 6, 2023. (AP Photo/Kirsty Wigglesworth, Pool)

If ever there was a banner day for hats — wild and colorful hats — it was Saturday, the dual spectacle of King Charles III's coronation and the celebration that IS the Kentucky Derby.

Katy Perry donned a wide lilac hat to go with her matching bespoke jacket and skirt by Vivienne Westwood, her chin up as she peered under its flat, tilted brim while she searched for her seat at Westminster Abbey (yes, there were memes), The Associated Press said.

And there was Princess Anne, the king's sister, in a two-pointed military topper with tall red feathers that blocked Prince Harry's view from the third row (more memes ensued). Sorry, Harry, she was chosen as Gold Stick in Waiting and holds a variety of military titles.

It's tradition, of course, to wear hats to coronations and other formal royal affairs, but the thousands who gathered on the streets to celebrate went all out with head gear, from fake golden crowns to novelty deeley bobbers (those springy headband things) and hats of all kinds with motifs featuring the British flag.

Speaking of hats of all kinds, the Kentucky Derby is arguably the world’s most famous horse race. It’s also a chance for racegoers to strut their fashion stuff.

Seersucker suits, floral dresses and bright colors abound, but racegoers famously elevate their style to another level with their grand collections of hats and fascinators.

Men tend to favor fedoras or bowlers, while women sport designs featuring feathers and flowers in every shape, color and size. Bigger is often better when it comes to Derby hats.

The event has appointed an official milliner, or hatmaker, every year since 2018. But in a sign of their growing importance at the Kentucky Derby, it named three milliners for the 2023 event: Christine Moore, Jenny Pfanenstiel and The Hat Girls.

The tradition of wearing hats to the Derby began with its first running in 1875.

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Sources: Shein Weighs Sale of Less Than 10% of Company in London IPO

A mannequin with a Shein sign stands in an office of a lingerie maker at WeMet Industrial Park, in Guanyun county of Lianyungang, Jiangsu province, China November 25, 2024. REUTERS/Florence Lo
A mannequin with a Shein sign stands in an office of a lingerie maker at WeMet Industrial Park, in Guanyun county of Lianyungang, Jiangsu province, China November 25, 2024. REUTERS/Florence Lo
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Sources: Shein Weighs Sale of Less Than 10% of Company in London IPO

A mannequin with a Shein sign stands in an office of a lingerie maker at WeMet Industrial Park, in Guanyun county of Lianyungang, Jiangsu province, China November 25, 2024. REUTERS/Florence Lo
A mannequin with a Shein sign stands in an office of a lingerie maker at WeMet Industrial Park, in Guanyun county of Lianyungang, Jiangsu province, China November 25, 2024. REUTERS/Florence Lo

Fast fashion retailer Shein is considering asking UK regulators to waive listing rules that require at least 10% of its shares to be sold to the public in its planned London flotation, two people with knowledge of the matter said.
The company is exploring this option to facilitate its IPO, one of the people said, according to Reuters.
If granted, it would likely be the first time that a company in London has been allowed to list below the recent 10% rule.
Singapore-headquartered Shein, which sells $5 tops and $10 dresses mostly made in China, in June filed confidentially with the Financial Conduct Authority (FCA) for a London listing.
However, Britain's financial regulator is taking longer than usual to approve its application, Reuters reported last week.
The people declined to be identified as they were not authorized to speak to the media.
Shein declined to comment.
Shein was valued at $66 billion in a fundraising round last year. A 10% flotation at that valuation would make the IPO worth $6.6 billion. The biggest European IPO this year was perfume and fashion company Puig's $2.9 billion deal, according to Dealogic.
The current valuation of Shein and how much it is looking to raise via the London listing was not immediately known.
London changed its listing rules in 2021 to boost the attractiveness of the venue for companies. It cut the proportion of shares an issuer is required to float to 10% from 25%, reducing potential barriers for large IPOs, the FCA said at the time.
In July, Britain ushered in the biggest reform of company listing rules in more than three decades to help it compete more effectively with New York and the European Union for new issuers.
Shein began to explore a listing on the London Stock Exchange early this year, Reuters reported in May, citing sources. The China-founded company's original plan to list in New York was derailed after opposition from US lawmakers.
Shein is also waiting for China's securities regulator to approve its plans for a London IPO, Reuters previously reported. Its revenues are expected to hit $50 billion this year, up 55% from 2023, according to Coresight Research.