(CTN News) – Shein, the fast fashion behemoth, has allegedly submitted confidential documents to US securities regulators, signaling its plans to go public in the United States.
This IPO is expected to be the largest in recent years. Shein is a prominent player in the fast fashion e-commerce industry, leveraging a vast network of small-scale manufacturers in China and a significant online advertising presence.
According to undisclosed sources mentioned in reputable publications such as the Wall Street Journal, Financial Times, New York Times, and Reuters, JPMorgan Chase, Morgan Stanley, and Goldman Sachs have been appointed as underwriters for this venture.
In 2024, Shein, a Chinese-founded online clothing retailer,
Is reportedly planning to go public in the US. This news comes after months of speculation and rumors about the company’s intentions.
Despite a drop in valuation from $100bn to $60bn, Shein is still expected to become the most valuable China-founded company to go public in the US since Didi Global’s debut in 2021. Was founded by Chris Xu and is now headquartered in Singapore.
Shein, the Chinese retailer known for fast fashion, is targeting a valuation of $80-90bn. However, it has come under scrutiny for its subpar working conditions, copyright violations, and negative environmental effects.
Additionally, it has faced allegations of evading import taxes and sanctions checks. Despite these obstacles, Shein has experienced significant growth and boasts a substantial user base.
Nevertheless, it must tackle concerns regarding its business practices and sustainability prior to a potential IPO.
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