Shein Files for US IPO With Plans To Go Public in 2024 — Retail Bum

Fast fashion giant Shein has confidentially filed for an initial public offering (IPO) in the U.S., the latest sign of its ambitions to expand its global reach.

The company’s effort to go public comes at a time when the U.S. stock market has seen a series of tepid IPO debuts amidst continued market volatility and high-interest rates.

While the company’s current worth remains unclear, it was reportedly targeting a valuation of $90 billion in its IPO float, according to sources close to the matter. In May 2023, the company was valued at $66 billion, about a third lower than its 2022 valuation.

“It doesn’t strike me as the most opportune time for Shein to come public, but if they need capital, the markets are open … and investor sentiment has been more positive than it was a few weeks ago,” Jason Benowitz, senior portfolio manager at CI Roosevelt told Reuters.

“When investors can review the financials, I would expect to see pretty strong growth historically … the key question will be if they can kind of maintain the pace or to continue to gain market share going forward,” he said.

The company’s decision to proceed with a confidential IPO will allow it to work directly with the U.S. Securities and Exchange Commission (SEC) to make…