Shein Plans to Go Public in the U.S. Next Year
Shein, a Chinese online retailer that specializes in fast-fashion, has secretly filed for an initial public offering in the U.S., according to the Wall Street Journal. The company, which sells trendy and affordable clothing, accessories, and beauty products, could go public as soon as next year, the report said.
Shein is one of the most popular e-commerce platforms in the world, especially among young consumers. The company claims to have more than 100 million active users in over 220 countries and regions. Shein’s revenue reached $10 billion in 2020, up from $2.8 billion in 2019, according to Bloomberg.
Shein’s IPO could be one of the biggest listings by a Chinese company in the U.S., despite the rising tensions between the two countries over trade and technology.
Shein’s IPO filing is confidential, which means that the company does not have to reveal its financial details or other information until closer to the listing date. The company has not commented on the report, and the timing and size of the IPO could change depending on market conditions, the Wall Street Journal said.
