Shein has reportedly lodged confidential paperwork with securities regulators informing them of its intention to go public in the US with a listing that could be worth nearly $90 billion.
The Chinese fast fashion titan, which counts ‘I’m A Celebrity’ star Georgia Toffolo, 29, among its fans, offers tops and dresses from $6 and has become a staple for many young women.
It is said to have filed papers for an initial public offering (IPO), with Goldman Sachs, JPMorgan Chase and Morgan Stanley reportedly hired as lead underwriters, according to unnamed sources cited by the Wall Street Journal, Financial Times and The New York Times.
Shein was founded in China in 2012 but is based in Singapore and has faced criticism over its treatment of workers in the country.
The listing would likely be the largest IPO in years as Shein is one of the global leaders of fast fashion e-commerce due to its a network of small-shipment manufacturers in China and a massive online advertising presence.