Chinese fast-fashion giant Shein is aggressively boosting its presence in Singapore by making a company called Roadget Business in the city-state its parent firm, reported Reuters, citing sources briefed on the matter and an analysis of Shein filings.
Shein’s founder and CEO Chris Xu has become a permanent resident of Singapore, the report noted. The company also looks to grow its team in the Southeast Asian country 4x by the end of this year, the sources added.
Xu and three other executives are currently listed as representatives of Singapore-registered Roadget Business, which was established in 2019 and has been Shein’s legal entity for its global website, according to filings in the city-state.
Guangzhou Shein International Import & Export and Shein trademarks have been transferred to Roadget. Representatives for Shein did not confirm the company’s move when pressed by Reuters.
See Also: To Shein or not to Shein: the billion-dollar question facing every ecommerce player
Editing by Collin Furtado and Arpit Nayak
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