Chinese fast fashion retailer Shein is awaiting approval for its IPO on the London Stock Exchange, with profits expected to double, surpassing $2 billion, overtaking Swedish fashion group H&M, and the UK’s Primark and Next, making it one of the most profitable fashion companies globally, while Zara’s parent company, Inditex, reported profits of $6.9 billion last year. Sources revealed that UK Chancellor Jeremy Hunt held talks with Shein’s executive director Donald Tang in February this year, persuading the company to list on the London Stock Exchange. If successful, Shein would become one of the largest listed companies in London’s history, with a valuation of up to $90 billion.