Shein Gains Approval for London IPO, SMCP Appoints CEO in Asia and Fast Retailing Reports Strong Uniqlo Growth
Shein Gains UK Approval for London IPO, Awaits Chinese Regulatory Clearance
Online fast-fashion retailer Shein has received approval from the UK’s Financial Conduct Authority (FCA) for its planned London IPO. The company, valued at $66 billion in 2023, now awaits clearance from China’s Securities Regulatory Commission (CSRC). Regulatory delays and recent U.S. policy changes, including the end of duty-free exemptions and new tariffs, may impact the IPO timeline. Shein had previously shifted its IPO focus to London following scrutiny in the U.S.
Chinese Skincare Brand Yue Sai Names Xiao Zhan First Global Ambassador
Chinese Skincare Brand Yue Sai announced Chinese actor Xiao Zhan as its first global ambassador. The campaign promotes its new full-spectrum sunscreen, aligning with Xiao Zhan’s modern take on traditional aesthetics. His visuals highlight the product’s light texture and blue light protection. His appearance in the visuals highlights the brand’s patented technology. The campaign blends traditional Chinese aesthetics with modern design, reflecting Yue Sai’s new brand strategy aimed at combining Eastern heritage with global appeal.
One Piece and Crocs Classic Clog Debuts at atmosCon 2025 in Japan
Crocs has teamed up with One Piece for the first time, releasing a Gear 5-inspired Classic Clog in collaboration with Japanese retailer atmos. The design features a white and purple colorway, cloud-shaped strap, and custom Jibbitz charms. The shoes will launch exclusively at atmosCon 2025 in Japan from April 19–20, with no global release announced yet.
Kenzo and Converse Unveil Chuck 70 Collaboration
KENZO, under the direction of Nigo, has partnered with Converse for the first time to release a special Chuck 70 collection. The lineup features digital Hana leopard prints in three colorways—pink/white, dark green, and black/white—across both high- and low-top styles. Design details include embossed Kenzo totems on the soles, a co-branded metal plate on the left heel, and dual logos on the insoles. The collection launches globally on April 17 via Kenzo stores and Converse’s official site.
SMCP Appoints Kleine Tan as CEO of Asia Region
French fashion group SMCP has named Kleine Tan as CEO of its Asia division, effective April 1, succeeding Jimmy Lam. Tan brings over two decades of experience in the region, most recently serving as President of Loewe Asia at LVMH. He has also held leadership roles at Louis Vuitton, Burberry, Prada, and Givenchy. SMCP aims to advance its strategic roadmap in Asia under Tan’s leadership.
Fast Retailing Reports Record H1 FY25 Results with Strong Uniqlo Growth
Fast Retailing, parent company of Uniqlo and Theory, posted record first-half FY25 results, with revenue up 12 percent to JPY 1.79 trillion (USD 11.63 billion) and operating profit up 18.3 percent to JPY 304.2 billion (USD 1.98 billion). Uniqlo’s international growth, especially in Europe and North America, drove the gains, while Greater China sales declined. GU posted modest revenue growth but lower profit, and Global Brands saw revenue dip. The company plans continued global expansion, including three new Uniqlo stores in the UK this year.
China’s Labour Day Travel Bookings Surge Amid Domestic and International Demand
Ahead of the Labour Day holiday, China’s travel market is seeing a surge in demand, with domestic bookings on Tuniu more than doubling compared to last year. Major cities like Beijing, Shanghai, and Guangzhou remain top destinations, while theme park packages and one-day guided tours are increasingly popular. Self-drive and customized trips are also on the rise. For outbound travel, Hong Kong and Macau lead the list, followed by Japan, Thailand, and Singapore, with group tours and flight-plus-hotel packages in high demand.
China Youth Travel Service Seeks Growth with Light Asset Model
China Youth Travel Service (CYTS) reported a 3.34 percent revenue increase in 2024, nearing ¥10 billion, but a 17.29 percent decline in net profit. Despite challenges like fixed costs and reduced investment returns, the company is exploring a “light asset” model for growth. This includes expanding its tourism service offerings and operating cultural projects in cities such as Xi’an and Weihai. Looking ahead, CYTS remains cautious in its acquisition strategy, focusing on high-quality opportunities supported by its strategic partnerships.
