Shein Group Ltd. has confidentially filed for a Hong Kong listing, people familiar with the matter said, marking another step for the fast-fashion retailer to become a publicly traded company.

China-founded fast-fashion retailer Shein has filed for an IPO in Hong Kong to accelerate the listing process and pressure Britain's regulators to approve its planned London debut, the Financial Times reported on Tuesday.

Shein previously filed to list in London around 18 months prior, but has struggled to receive regulatory approval.