Fast Fashion Giant Shein Reportedly Filed Confidentially for US IPO

By
Fatima Attarwala
Fatima Attarwala
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Fatima Attarwala is a business news writer and editor with a decade of experience researching, analyzing, and commenting on issues influencing the economy.
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Published November 28, 2023
12:12 PM EST
Shein

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KEY TAKEAWAYS

  • Shein reportedly filed confidentially for an initial public offering in the U.S.
  • Its stock could start trading as soon as next year.
  • The fast fashion company was last valued at $66 billion in May.

Fast fashion giant Shein reportedly filed confidentially for an initial public offering (IPO) in the U.S. and could be ready to start trading as soon as next year.

Based in Singapore after moving headquarters from China in 2021, Shein is a global online fashion retailer that was valued at $66 billion in its last fundraising round in May.

The company recently partnered with Forever 21 to launch a co-branded clothing line, and has acquired a significant stake in Sparc Group, a joint venture backed by brand management firm Authentic Brands Group and mall owner Simon Property Group.

Companies often use confidential filings to review IPO plans with the Securities and Exchange Commission (SEC) and make changes with less public exposure. Shein could refine its paperwork and address the SEC's questions over the coming months, with Goldman Sachs, JPMorgan, and Morgan Stanley expected to be the lead underwriters on the offering,

So far this year, U.S. IPOs have raised approximately $23.64 billion, surpassing the $21.3 billion raised during the same period last year. However, this figure pales in comparison to 2021's record-breaking $300 billion, when the IPO market was at its peak.

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  1. CNBC. "Shein files for U.S. IPO as fast-fashion giant looks to expand its global reach."

  2. The Wall Street Journal. "Shein Still Needs to Prove It’s a Bargain."

  3. Reuters. "China's Shein files for US IPO in major test for investor appetite - sources."

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