Shein looks to open its first UK warehouse as it prepares to float on the London Stock Exchange for £50bn

Shein is looking to open its first UK warehouse as it prepares for a £50bn listing on the London Stock Exchange.

The Chinese fast fashion giant is exploring a large site in the so-called “golden logistics triangle” of the Midlands, known for its logistics and warehousing facilities.

Shein representatives have been looking at sites in Derby, Daventry, Coventry and Castle Donington.

And the group is looking at buildings between 300,000 and 400,000 square feet, but could go as large as 600,000 square feet.

Shein has been in talks with politicians over its proposed listing and confidentially filed paperwork with the Financial Conduct Authority in June, according to reports.

The Mail on Sunday revealed in April that the most likely destination was London rather than New York.

A listing valuing Shein at £50bn would be one of the biggest in the history of the London Stock Exchange.

But potential investors are nervous because the company has been criticized for exploiting workers in China.

A report by advocacy group Public Eye in May found that some workers endure 75-hour weeks.

But its popularity has grown in recent years and its profits hit £1.6bn last year after selling £35bn worth of clothes.

A Shein spokesperson said it has “no immediate plans to acquire warehouse space in the UK”.