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.
August 21, 2024: Shein may sell shares directly to the British public as part of a £50bn stock market flotation in London, according to The Telegraph.
August 13, 2024: Shein has enlisted a former top European Union official to bolster its lobbying efforts across the region, taking a more active stance toward potential regulatory scrutiny as it plans a stock market debut in London, according to Bloomberg.
August 1, 2024: The boss of the London Stock Exchange Group has denied lowering standards in order to lure the fast-fashion retailer Shein’s £50bn IPO to London, as he hailed a stronger pipeline for UK listings, according to The Guardian.
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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