Camilla Rydzek13 August 2026Fast fashion giant Shein has lost the first round of its London copyright battle against its rival Temu after the High Court dismissed claims involving product photographs and upheld its rival’s counterclaim. It also determined that the platform lacked knowledge of, or reason to believe, any infringement of Shein’s copyright by the photographs at issue. The decision comes as Shein prepares for a potential initial public offering in Hong Kong. The company is reportedly showing investors a mid-to-high $20 billion valuation, down from the $30 billion to $40 billion range it was seeking as recently as last week. The trial formed part of a global legal battle between the two Chinese retailers, with previous trials in the US, according to Reuters.