Hong Kong IPO represents important milestone for Shein: the retail technology week in numbers
Do you like numbers? Do you like retail tech news? Then this is the article for you. Including Waitrose, SOLUM, Ocado Group, Humanoid, Tesco, Uber Eats, Deliveroo, JD, CI&T, Sereact, TikTok Shop, and Zalando.
200...Waitrose reports that it has rolled out SOLUM electronic shelf labels to more than 200 stores nationwide. Since announcing the partnership in December 2025, the grocery retailer has continued deploying SOLUM’s Newton Pro ESLs across its estate to modernise how pricing and product information are managed in-store.
Mark Duckworth, Country Manager UK & Ireland at SOLUM, says: “Reaching the 200-store mark is an important milestone, but more importantly, it reflects how retailers are rethinking the role of technology within the store. Digital shelf technology is fast becoming part of the connected retail infrastructure that enables stores to respond more quickly, operate more efficiently and deliver a better experience for Partners and customers alike. We’re proud to be supporting Waitrose as it continues that journey.”
Waitrose says that it selected Newton Pro for its “premium design, reliability and suitability for food retail environments”. The solution enables centrally managed updates to pricing and product information across fresh, ambient and specialist categories, while maintaining the level of in-store presentation expected by Waitrose customers. As the roll-out continues across additional stores, the programme represents part of its ongoing investment in digitally enabled retail operations.
$40 billion and $50 billion...Shein's IPO is rumoured to be imminent as early as August, following approval to proceed with a Hong Kong listing. This marks a significant step after failed listing attempts in New York and London, but the company now faces the more difficult task of securing investor support at its target valuation.
Shein is seeking a valuation of between $40 billion and $50 billion, less than half of the $100 billion valuation floated during its 2022 funding round, notes GlobalData.
The new proposed valuation reflects a more measured view of the business, as growth moderates and investors place greater emphasis on profitability, regulatory exposure, and the sustainability of its ultra-fast fashion business model. The business also continues to face mounting cost pressures, including the European Union's €3 fee on low value imports implemented in July 2026; the removal of US de minimis exemptions since 2025; and the sustained scrutiny over its labour practices and product compliance.
Sharon Iles, Senior Apparel Analyst at GlobalData, comments: “The lower valuation could improve the attractiveness of the offering by aligning expectations more closely with current market conditions. Shein has issued guidance for a near doubling of net profit, from $1.1 billion in 2024 to $2 billion in 2025, suggesting a business that remains highly cash generative despite slowing growth. A successful IPO would provide additional capital to accelerate investment in logistics infrastructure, AI driven merchandising, and supply chain capabilities, while supporting expansion across Eastern Europe, the Middle East, and South America, where online fashion penetration continues to increase.”
Iles adds: “The Hong Kong IPO represents an important milestone for Shein, but it does not remove the structural challenges facing the business. Competition is intensifying as Temu expands internationally, while Inditex's Lefties and Primark scale their own value focused propositions. Both arguably hold an advantage on sustainability credentials, as Primark has invested visibly in supply chain audits and its Primark Cares programme, while Inditex has built a longer established supplychain compliance and audit infrastructure than Shein's ultra-fast fashion model."
“In contrast, Shein continues to face criticism over the absence of comparable independent supplier audits and regularly faces allegations of unethical labour. The success of the listing will therefore be judged by whether Shein can demonstrate durable growth and margin resilience in an increasingly regulated and competitive global apparel market.”
530,000...Ocado Group has announced an agreement to build a large customer fulfilment centre for a "fast growing European national retailer". The specific retailer has not been named, but we do know that Ocado will install its latest technology into the facility and it is due to go live in FY28.
The company has taken the final unit at Indurent Park Stoke Central, a 530,000 square foot industrial and logistics space on the 300-acre Festival Park development in Stoke-on-Trent. The site will be equipped with Ocado’s Re:Imagined technology suite, including the 600s bot, On-Grid Robotic Pick (OGRP), and a fully automated freezer.
Plans are afoot for the unnamed retailer to quickly transfer its existing online order volumes into the CFC, with the site expected to go live with utilisation at just over half of its design capacity.
Tim Steiner, Chief Executive at Ocado Group, says: “I’m delighted that our world leading automation and robotics have been chosen to help drive forward the online operations of another leading retailer. Together with our agreement with Asda earlier this year, this partnership highlights the growing demand for our solutions across the breadth of our technology offering.”
$152 million...Humanoid, a UK-based company building industrial humanoid robots, has announced a $152 million Series A financing at a $1.35 billion post-money valuation. This brings the total amount raised to date to $270 million. The round was led by Prime Movers Lab, with participation from Schaeffler, Bosch, Fubon Financial Holding Venture Capital, and Aglaé Ventures.
The new capital will fund Humanoid’s next phase of growth, with the aim of strengthening its technology leadership and accelerating its commercial deployments and business expansion. It has secured partnerships with Fortune 500 companies, including SAP, NVIDIA, Bosch, and Siemens. Most notably, Humanoid recently signed what is claimed to be the industry’s largest publicly announced commercial agreement with Schaeffler for the deployment of thousands of humanoid robots in manufacturing environments.
“In just two years, we’ve gone from an idea to becoming Europe’s first pureplay humanoid robotics unicorn, partnered with some of the world’s leading industrial companies and built one of the strongest pipelines in the industry. What we’ve accomplished in such a short time would typically take a decade. None of this would have been possible without an extraordinary team that challenges every single day what people believe is possible. This funding gives us the resources to move even faster and to turn humanoid robots from breakthrough technology into everyday industrial tools,” says Artem Sokolov, Founder and CEO at Humanoid.
“Humanoid robotics will be one of the defining technologies of the next decade, reshaping how commercial and industrial work gets done. We expect the field to consolidate around a handful of category leaders across the US, Europe, and China. Humanoid AI will be one of a small cadre of robotics companies that will define humanoid robotics in Europe and beyond,” says Zia Huque, General Partner at Prime Movers Lab.
$116 million...Berlin-based Sereact, a provider of physical AI for warehouse robotics, has added Zalando as an investor in its ongoing Series B, which now stands at $116 million. It lines up alongside lead investor Headline as well as Bullhound Capital, Daphni, Felix Capital, Air Street Capital, Creandum and Point Nine.
The startup has now raised over $145 million to date. Over 200 Sereact systems are currently in use across Europe, including at Mercedes Trucks and BOL. The capital will go toward Cortex 2.0, the next-generation of Sereact's robot brain, as well as international expansion, particularly into the US.
Cortex acts as a universal AI operating system that can run across multiple hardware forms - from single arm picking cells and dual-arm returns stations to humanoid robots. According to a press release, the upcoming Cortex 2.0 model “shifts robotic automation from a "try and see" to a "plan and try" approach by using a learned world model to anticipate physical outcomes, score potential trajectories for risk and efficiency, and plan movements before the robot even acts”.
6,000...EcoVend by Reconomy, a circular economy specialist, reports that its reverse vending machines (RVMs) saw strong public engagement in the fan zone during the recent Formula 1 Pirelli British Grand Prix at Silverstone, giving spectators the opportunity to experience how the UK's Deposit Return Scheme (DRS) will work ahead of its launch in October 2027.
This marks the third year of EcoVend’s collaboration with Silverstone as its exclusive RVM provider. During the 2026 event, almost 6,000 single-use cans and bottles were deposited by spectators, with the equivalent handling fee value being donated to Silverstone's chosen charities.
89%...Merchants' fear that AI shopping agents will cut them out of the sale is, for now at least, a ‘hallucination’, according to a PSE Consulting study of 4,250 consumers across the UK, US, France and Germany. 89% say recognising the seller’s brand is important or very important when acting on an AI recommendation and 92% state that customer reviews are a deciding factor - the same trust signals that have always governed purchasing decisions, now applied to a new discovery channel.
Amazon's lawsuit against Perplexity AI - which accuses the startup's Comet browser of disguising AI agents as human shoppers to buy on its site - has been read as the opening shot in a war over who controls the checkout button when AI does the shopping, crystallising a fear now spreading through merchant boardrooms.
PSE Consulting’s findings suggest that while AI agents are increasingly shaping the shortlist of products consumers consider, they are not displacing the merchants, marketplaces and brands consumers ultimately trust to complete the sale. Consumers continue to favour established marketplaces for fulfilment, even as they lean on advertising funded AI tools to get there - 90% say their use of retail and travel marketplaces will stay the same or increase as AI adoption grows, and just one in ten expect to rely on them less.
47% of Gen Z/Y shoppers have used TikTok Shop to browse or buy products in the past three months, compared with just 21% of UK shoppers overall, according to research from Savvy.
Carried out across 1,005 UK shoppers, the findings suggest social commerce is no longer an emerging channel but a growing force that's reshaping how younger consumers discover and buy products, raising expectations that traditional e-commerce sites increasingly struggle to meet.
While brand and retailer websites remain the UK's mostcused online shopping destination (used by 54% of Gen Z/Y and 52% of shoppers overall in the past three months), the research indicates that social platforms are rapidly narrowing the gap with conventional e-commerce for younger consumers, changing what they expect from the digital shopping experience.
Alastair Lockhart, Insight Director at Savvy, comments: “Since the birth of online shopping, e-commerce has offered shoppers range, convenience and practicality, but it has often lacked the excitement and theatre of physical retail. Social commerce is starting to change that. It brings together discovery, entertainment, social proof and instant purchase in a way that makes traditional ecommerce feel increasingly functional by comparison. For retailers, the challenge is not about whether to sell through TikTok Shop. It is how to make every channel - websites, apps and stores - feel more engaging, responsive and confidence building.”
1,800...Tesco has announced plans to launch on Uber Eats and Deliveroo.
Through its Whoosh service, it already offers store to door grocery delivery from as little as 20 minutes from around 1,800 stores, reaching more than 70% of the UK population. This launched in 2021 with around 1.5 million customers now using it.
The Uber Eats tie up will launch in August, and the one with Deliveroo will roll-out later this summer. Customers will be able to access hundreds of Clubcard Prices and collect Clubcard points when shopping Tesco through these platforms.
Ashwin Prasad, Tesco UK CEO, says: "Whoosh has transformed the way millions of customers shop with Tesco, offering speed, convenience and great value through the power of Clubcard. Launching with Uber Eats and Deliveroo will enable us to bring those benefits to even more customers.”
"Our online business continues to go from strength to strength, and these partnerships represent another important step in expanding our reach. By combining our market leading range, quality and value with the scale of Uber Eats and Deliveroo, we're making it even easier for more customers to shop with Tesco in the way that suits them best."
5 and 8...FTSE retailers issued five profit warnings in Q2 2026, up from three in the first quarter of the year, according to EY-Parthenon research. This makes 2026 only the third year since 2007 in which the sector has recorded more warnings in the second quarter compared to the first.
FTSE retailers issued a total of eight profit warnings in the first half of 2026, two more than the six recorded during the same period last year.
Silvia Rindone, EY-Parthenon UK&I Retail Lead, says: “Retailers entered 2026 with cautious optimism following a stronger festive trading period, but the rise in profit warnings in Q2 shows how quickly conditions can shift. The sector remains highly exposed to external shocks, and the impact of geopolitical disruption has compounded existing pressures on costs, supply chains and consumer confidence. While headline sales have shown some resilience, this has often been driven by promotions rather than underlying demand strength. Many retailers are navigating a difficult balancing act between protecting margins, remaining price competitive and continuing to invest in technology and customer experience."
“The growing divergence in performance across the sector is becoming more pronounced. Businesses able to fund investment in AI, other technology and customer experience are strengthening their competitive position, while others are struggling to keep pace. This is widening the gap between higher performing retailers and those facing ongoing financial pressure.”
“Looking ahead, the outlook for the second half of the year is finely balanced. Supportive factors such as seasonal demand and policy developments may provide some uplift, but ongoing cost pressures, cautious consumers and geopolitical uncertainty mean execution will be critical in determining which retailers outperform and which continue to face challenges.”
29,225...Meadowhall shopping centre in Sheffield reports that a new JD store will open its doors to customers on Thursday 30th July. Located on the Lower Level of the High Street, this will be almost triple the retailer's previous size and will span 29,225 sq ft, offering a broader range of clothing, footwear and sportswear. It will also feature self-service tills.
Darren Pearce, Centre Director at Meadowhall, says: "JD is already one of our most popular retailers, so to see the brand invest in a store of this scale is fantastic - it really demonstrates its confidence in Meadowhall as a destination. Almost tripling in size, the new store will give shoppers access to a wider range of brands and the very latest in sportswear and fashion, all under one roof."
"It builds on what has been a brilliant year of new arrivals at the centre. From Pull&Bear and Stradivarius to now a huge new JD, we’re incredibly proud of the new brands and experiences we’re giving to our shoppers.”
James Air, Director of Group Real Estate and Acquisitions at JD, says: "We're proud to be expanding our presence in Sheffield, creating a prime megastore within the heart of Meadowhall. This investment reflects our commitment to the city and gives customers access to an even bigger selection of the world's leading sports, fashion and lifestyle brands, all within a phenomenal, high spec new retail space. We can't wait to welcome shoppers through the doors.”
86%...CI&T has launched research examining how modern purchase pathways are evolving, what is motivating the consumers adopting agentic commerce, and how retailers can capitalise on the opportunity and foster loyalty in a rapidly changing market.
The report, involving a survey of over 2,000 UK&I participants, finds that AI agents are rapidly moving into mainstream consumer shopping behaviour in the UK and Ireland:
86% of respondents have either used an AI agent when shopping or are open to doing so in the future.
68% have already used an AI agent when shopping.
57% of those who have yet to use an AI agent said they are open to doing so.
67% say AI makes them smarter shoppers.
Agents have effectively become a mall for consumers, putting all brands and product categories under the same roof, but with the ability to optimise purchase decisions in real-time. According to the report, consumers are primarily using AI agents for pointed research: comparing different brands (45%), finding the lowest price (42%), and finding where specific items can be bought (39%). The fastest growing retail categories for AI adoption in the UK&I are electronics, home appliances, and groceries.
These agents are not replacing the purpose of retailer websites; rather, they are providing consumers with a highly accessible way to begin their shopping journey with research.
