South China Morning Post
Advertisement
Advertisement
E-commerce
Get more with myNEWS
A personalised news feed of stories that matter to you
Learn more
Shein's holiday pop-up shop seen inside retailer Forever 21's Times Squares store in New York on November 10. Photo: Reuters
TechTech Trends

China-founded e-commerce fashion start-up Shein files for US IPO

  • Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the offering, which could happen in 2024, the WSJ reported
  • Shein is expected to become the most valuable China-founded company to go public in the US since Didi Global’s 2021 debut at a US$68-billion valuation
E-commerce
Reuters
Reuters
Why you can trust SCMP
China-founded online fashion retailer Shein has confidentially filed to go public in the United States, the Wall Street Journal reported on Monday, citing people familiar with the matter.

The fast-fashion giant has been working with at least three investment banks about a potential initial public offering (IPO) and was in talks with the New York Stock Exchange and the Nasdaq, Reuters had reported in July.

Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the offering, which could happen in 2024. according to a report by The Wall Street Journal.

Shein did not immediately respond to a Reuters request for comment.

China-founded Shein targets US$90 billion valuation in US IPO: sources

The company was valued at more than US$60 billion in May and is expected to become the most valuable China-founded company to go public in the US since ride-hailing giant Didi Global’s debut in 2021 at a US$68-billion valuation.

Fast fashion has been gaining popularity in the US. Shein has partnered with SPARC Group, a joint venture between Forever 21 owner Authentic Brands and mall operator Simon Property, to expand its reach in the world's largest economy.

Post