Shein Finally Wins China's Approval for Hong Kong IPO

FILE PHOTO: Sunglasses are displayed at the reception of the fast-fashion brand Shein's office in Sao Paulo, Brazil, December 15, 2025. REUTERS/Jorge Silva/File Photo
FILE PHOTO: Sunglasses are displayed at the reception of the fast-fashion brand Shein's office in Sao Paulo, Brazil, December 15, 2025. REUTERS/Jorge Silva/File Photo
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Shein Finally Wins China's Approval for Hong Kong IPO

FILE PHOTO: Sunglasses are displayed at the reception of the fast-fashion brand Shein's office in Sao Paulo, Brazil, December 15, 2025. REUTERS/Jorge Silva/File Photo
FILE PHOTO: Sunglasses are displayed at the reception of the fast-fashion brand Shein's office in Sao Paulo, Brazil, December 15, 2025. REUTERS/Jorge Silva/File Photo

Fast-fashion retailer Shein won approval for its long-awaited Hong Kong IPO on Friday, a notice posted on the China Securities Regulatory Commission (CSRC) website showed, clearing the way for a listing after failed attempts in New York and London.

Shein, a fast-growing e-commerce giant, would be the highest-profile retailer to list in years, as many consumer brands have delayed initial public offerings due to weak investor sentiment and subdued spending by lower- to middle-income shoppers.

Founded by Chinese-born entrepreneur Sky Xu in 2012, Shein has waited a year for the green light from Beijing for its IPO, which had to be cleared by the highest levels of the ruling Communist Party, according to a source with direct knowledge of the matter.

Beijing views Shein as politically sensitive and has been cautious about endorsing a listing after controversies including a sex doll scandal in France and reports of poor labor practices at its supplier factories in China, Reuters quoted the source as saying.

Shein filed confidentially for its Hong Kong IPO and had not made the filing documents public as of Friday. With CSRC approval, the company can organize investor roadshows and prepare for ⁠its hearing with ⁠the Hong Kong stock exchange's listing committee, a requirement for all IPO candidates.

The company could possibly aim to list in September or October, the source said.



Indian Haute Couture Presence 'Overdue', Says Designer Manish Malhotra

France's Haute Couture and Fashion Federation (FHCM) has been diversifying the labels present in Paris, inviting designers from outside Europe and the West. Kenzo TRIBOUILLARD / AFP
France's Haute Couture and Fashion Federation (FHCM) has been diversifying the labels present in Paris, inviting designers from outside Europe and the West. Kenzo TRIBOUILLARD / AFP
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Indian Haute Couture Presence 'Overdue', Says Designer Manish Malhotra

France's Haute Couture and Fashion Federation (FHCM) has been diversifying the labels present in Paris, inviting designers from outside Europe and the West. Kenzo TRIBOUILLARD / AFP
France's Haute Couture and Fashion Federation (FHCM) has been diversifying the labels present in Paris, inviting designers from outside Europe and the West. Kenzo TRIBOUILLARD / AFP

Indian designers are a growing presence at Paris Haute Couture Week -- "overdue" representation for a country that has long played a role behind the scenes, the latest newcomer, Manish Malhotra, told AFP.

Malhotra, 59, became the fourth Indian designer after Rahul Mishra, Gaurav Gupta and Vaishali S to join the official Paris calendar this week, considered the most elite stage of the global fashion industry.

The best-known European houses from Chanel to Christian Dior have long relied on Indian embroiderers and textile makers for their spectacular one-of-a-kind creations.

But Indian designers are now harnessing home-grown artisans to challenge the Parisian tastemakers in a business that traditionally served royalty, but now caters to celebrities and other global VIPs.

"I think it was long overdue," Malhotra told AFP, a day after presenting an intensely personal collection of highly structured dresses in Paris -- all a tribute to his recently deceased mother.

"India is so culturally rich in terms of texture and textile, architecture, jewels, embroidery. It has such a heritage of kings and queens.

"You know, I think it was high time," he added.

France's Haute Couture and Fashion Federation (FHCM) has been actively diversifying the labels present in Paris, inviting designers from outside Europe and the West.

Malhotra admitted to feeling nervous before his first show on Wednesday, which was entitled "Maa" and reflected Malhotra's deep bond with his mother whom he lost just three months ago.

"There's nothing bigger than Paris Haute Couture. This is the ultimate platform," he said.

While preparing, "I kept coming back to my mother's story, and at one point I said, 'you know what, Paris doesn't know me, and if they are going to know me, they have to know what I'm feeling right now'," he explained.

"And honestly, I'm still very affected by losing her."

The opening outfit was a dramatic full-length coat featuring sculptures of a boy and his mother at different life stages, while another dress featured elaborate cut-outs of a mother and boy on the front who embraced as the model moved.

Born into a middle-class family in Mumbai, Malhotra started out making costumes for Bollywood before moving into couture and bridalwear.

His decision to show in Paris underlines his growing international ambitions, having launched separate jewelry and beauty lines, as well as his first overseas boutique in Dubai in 2023.

He also became a viral sensation after this year's Met Gala having arrived wearing a jacket and cape featuring sculptural and embroidered tributes to Mumbai.

He has also dressed US superstars from Rihanna to Jennifer Lopez.

"After 35 years of working, what's the next challenge for me?" he said.

"Maybe an atelier in Paris, maybe a store in New York?"


Hermes to Show Haute Couture for First Time in January

A woman makes a reel while running past the French luxury brand Hermes store, Mumbai, India, Nov. 14, 2025. (AFP)
A woman makes a reel while running past the French luxury brand Hermes store, Mumbai, India, Nov. 14, 2025. (AFP)
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Hermes to Show Haute Couture for First Time in January

A woman makes a reel while running past the French luxury brand Hermes store, Mumbai, India, Nov. 14, 2025. (AFP)
A woman makes a reel while running past the French luxury brand Hermes store, Mumbai, India, Nov. 14, 2025. (AFP)

French luxury group Hermes is entering the world of haute couture and will unveil its first-ever collection in January, the company told AFP on Thursday.

Head womenswear designer Nadege Vanhee will create the inaugural collection which will join the Spring/Summer 2027 Haute Couture Week at the start of next year, the French brand said.

The family-run clothes and leather-goods maker, renowned for its iconic handbags and scarves, is a powerhouse in the pret-a-porter business but had until now stayed clear of made-to-measure.

The company confirmed a report in fashion industry news service WWD which was the first to announce the January launch date.

Axel Dumas, executive chairman of the group, had indicated the company's interest in the haute couture last year, which is bought by an elite clientele of VIPs, celebrities and royalty.

"What interests us about haute couture is the craftsmanship. We already have an exceptionally high level of expertise and incredible quality leather, and we thought, 'Why not?'" he said in February 2025.

Thursday was the last of four days of the Autumn-Winter Couture Week in Paris, featuring shows by Dutch designer Peet Dullaert and Syria's Rami Al Ali.

The luxury sector as a whole has been hit by weaker Chinese demand and disruption caused by war in the Middle East sparked by US and Israeli attacks on Iran in February. LVMH

French luxury giants LVMH, Kering and Hermes have all reported lower sales in the first half of the year.

Shares in Hermes are down 27 percent in the last six months.


Hugo Boss Recommends Shareholders Reject Frasers' Bid

FILE PHOTO: A window display is seen at the Boss store in London, Britain, May 30,2024. REUTERS/Chris J. Ratcliffe/File Photo
FILE PHOTO: A window display is seen at the Boss store in London, Britain, May 30,2024. REUTERS/Chris J. Ratcliffe/File Photo
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Hugo Boss Recommends Shareholders Reject Frasers' Bid

FILE PHOTO: A window display is seen at the Boss store in London, Britain, May 30,2024. REUTERS/Chris J. Ratcliffe/File Photo
FILE PHOTO: A window display is seen at the Boss store in London, Britain, May 30,2024. REUTERS/Chris J. Ratcliffe/File Photo

German fashion brand Hugo Boss on Thursday recommended that shareholders do not accept Frasers Group's voluntary takeover offer, saying the British company's offer price of €38 ($43.45) per share was not adequate.

The offer, which was just a 4.3% premium to its price at ⁠the time, does not ⁠reflect Hugo Boss' value and future potential, Reuters quoted the company as saying in a statement.

Hugo Boss has suffered falling sales and profits, and CEO Daniel ⁠Grieder is trying to turn the business around.

Frasers, which holds around 26% of the company, launched the offer to increase its stake in the German company beyond 30% — the threshold above which German regulations require it to make a full acquisition ⁠offer ⁠to other shareholders.

Grieder, who took over five years ago, aimed to make the brand a global leader, but his expansion plans came to fruition just as consumer demand started to weaken post-pandemic amid surging inflation.