Shein has filed to go public confidentially. It was rumored long ago that the company would run through an IPO soon. The last recorded value of the fashion retailer was $66 billion. Goldman Sachs, JPMorgan, and Morgan Stanley will be the lead underwriters in the offering.
Shein, the Chinese-founded fast-fashion retailer, filed to go public in the United States. The company is looking to expand its global reach, as there have been rumors for a long time that the company will transform into an IPO. The company could soon start trading on the public market as early as 2024.
However, the current worth of the company is unclear at the moment. Despite that, the valuation of the company has also been a big point of debate among the owners and advisors of Shein.
It is common in the United States to file confidentially for an IPO. It basically allows companies to have clear communication with the US Security and Exchange Commission. This way, they can also make necessary adjustments to their IPO-filling in private.
According to CNBC,
“Over the next few months, Shein will likely make tweaks to its paperwork and answer numerous questions from the agency. The filing will be made public once the company is ready to move forward with its IPO. At that point, those communications with the SEC and any adjustments to its paperwork will be released as well.”
In the last few years, Shein has seen a meteoric rise. It has become famous across the globe due to its fashion-forward designs, best prices, and plenty of collections. However, the company also faced many challenges recently due to accusations regarding forced labor, violations of labor laws, environmental violations, stealing designs, and more.
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