'We Must Go on,' Says Lebanese Designer Elie Saab after Blast

Lebanese haute couture fashion designer Elie Saab. (Reuters)
Lebanese haute couture fashion designer Elie Saab. (Reuters)
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'We Must Go on,' Says Lebanese Designer Elie Saab after Blast

Lebanese haute couture fashion designer Elie Saab. (Reuters)
Lebanese haute couture fashion designer Elie Saab. (Reuters)

It felt like an eternity rather than just a few minutes as haute couture fashion designer Elie Saab scrambled to make sure his 200 staff members, including his son, were safe when this month's massive explosion shook Beirut.

Like many Lebanese on Aug. 4 when chemicals at the port detonated, the 56-year-old felt the blast was on his doorstep.

"I saw my son covered in blood, I could not believe it. I said okay, he is wounded, but it was okay, it was just cuts to his head and arms," Saab said.

"But it was 15 minutes that felt like two days long. It was not just because it is a father and son thing, it was because we all work together like one family under one roof."

The explosion killed 178, injured 6,000 and damaged whole neighborhoods.

Saab said his main office and headquarters were badly damaged. His home a few hundred meters from the port, was gutted.

The blast destroyed the shops and ateliers of at least two other designers, Zuhair Murad and Rabih Keyrouz, himself badly injured.

Saab is no stranger to devastation. He started his label in 1982, at the height of Lebanon's 1975-1990 civil war.

The Aug. 4 blast revived those memories.

"It was the same smell, the same dust, the broken glass. Honestly, we did not want to relive this and it was not necessary," he said.

"This is a huge setback but we have to be like Beirut - every time dusting itself off and returning to the way it was," Saab said.

Saab's team plan to go back to their offices from Aug. 20 to meet a deadline for the September Paris couture show.

He also plans to rebuild his residence, with its high ceilings and arches, marble columns and Arabesque tiles. For now, rubble and dust were everywhere.

"We must go on ... It does not become us as Lebanese to give up," Saab said. "That is the doable part. But the biggest loss is the people you can't bring back."

On a table lay a record by singer Fairouz, "Lebanon Forever". It was broken in two.



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.