Fast-Fashion Giant Shein Files to Go Public
The Chinese company was valued at $66 billion earlier this year
Shein, the China-founded online fashion company that won over hundreds of millions of shoppers around the world, has confidentially filed to go public in the U.S. in what could be one of biggest IPOs in years.
Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the offering, which could happen in 2024, people familiar with the matter said.
Shein, now based in Singapore, was valued at around $66 billion in a fundraising round in May and is likely to aim for an even higher valuation in an initial public offering.
Shein has disrupted the clothing industry with its on-trend $5 skirts and $9 jeans in the past few years. The 11-year-old company is now one of the largest fashion brands in the world.
Chinese media earlier reported on Shein’s confidential filing.