The Chinese online fashion retailer, valued at over $60 billion, has filed for an initial public offering in New York. According to insiders, Shein submitted its confidential filing to the Securities and Exchange Commission on Friday.
Sources indicate that Shein aims to achieve a valuation of at least $50 billion through its IPO. The company has experienced remarkable growth in recent years, driven by its immense popularity among Gen-Z shoppers. Currently, Shein’s app holds the title of the most downloaded shopping app globally, boasting over 100 million active users.
Anticipated to be one of this year’s largest tech listings, Shein’s IPO arrives at a time when Chinese tech companies have attracted growing interest from investors. However, the company may face scrutiny from U.S. lawmakers regarding its labor practices, with accusations of sweatshop and child labor usage in its supply chain.
The timing of Shein’s public debut remains uncertain, as the company is still in the early stages of the IPO process. It could take several months before Shein files its public prospectus. Nevertheless, this filing signifies a significant step forward for Shein and indicates its genuine intent to go public.
Additional details about Shein’s IPO include the following:
- Shein is expected to list on the New York Stock Exchange.
- The company aims to achieve a valuation of at least $50 billion.
- The IPO is projected to be one of the largest tech listings this year.
- U.S. lawmakers are scrutinizing the company’s labor practices.
- The timing of Shein’s public debut is yet to be determined.
