Shein IPO date is to be announced. The company does not have a ticker symbol or stock code.
Shein is an online clothing retailer headquartered in Singapore, Singapore. Found in 2008 by Chris Xu, Shein offers an extensive range of affordable and on-trend clothing for men, women and children. The company has also expanded its product line to include accessories, shoes, beauty products, electronics, sports and outdoor equipment, appliances, pet supplies, automotive accessories, office and school supplies and toys and games.
Shein uses on-demand manufacturing technology to connect suppliers to its supply chain and operates in over 150 countries worldwide.
November 14, 2024: Amazon has launched a new outlet called Haul, which caps the price of products on sale at $20, in an effort to take on low-cost retailers Temu and Shein, according to the BBC.
October 28, 2024: Fast fashion phenom Shein has made its foray into the branded credit card space with a new offering in Latin America. The China-founded online marketplace has partnered with Mexican fintech firm Stori, announcing the launch of the Shein x Stori Mastercard last week in a release viewed by Sourcing Journal, according to MSN.
October 21, 2024: Shein is turning up the seasonal magic with an early launch of its Black Friday deals, giving shoppers the perfect reason to start checking off their gift lists before the holiday rush, according to PR Newswire.
Shein has confidentially filed to go public in the US, according to Reuters. Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the IPO that’s reportedly slated to take place in 2024.
The deal’s size or IPO valuation has not yet been determined.
As a private company, Shein’s financials are not public.
In February 2023, the Financial Times reported that a Shein “management presentation” shown to investors and seen by the Financial Times showed that Shein was targeting annual revenue of $58.5 billion in 2025, up from $22.7 billion in 2022. Shein also reportedly projected that its gross merchandise value will grow 175% from 2022 to $80.6 billion in 2025. According to the presentation, as reported by the Financial Times, Shein achieved a profit for four consecutive years, reaching $700 million in 2022.
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