BUSINESS

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BUSINESS

China's Shein files for US IPO

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Shein's confidential IPO

Chinese fast-fashion giant Shein has confidentially filed for a US IPO. The company was last valued in May at $60 billion.

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Most valuable company

Shein could be the most valuable company founded in China to go public in the US since ride-hailing giant Didi Global's debut in 2021 at a $68 billion valuation.

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Debut in 2024

The Singapore-based company is expected to go public in 2024, potentially aiming for up to $90 billion in the float.

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Navigating challenges

Shein's IPO comes amid challenging market conditions. The US market has seen four major IPOs lately, with three falling short of investor expectations.

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Regulatory hurdles

In August, Republican attorney generals from 16 US states requested the US market regulator to audit Shein's supply chain for alleged forced labor use.

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Recent partnership

Shein recently partnered with SPARC Group to broaden its market presence and capitalize on the increasing demand for fast-fashion merchandise.