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.
June 28, 2024: Temu and Shein were ordered by EU tech regulators to provide details on how they comply with EU online content rules by July 12 following complaints by consumer bodies, according to Reuters.
June 24, 2024: Shein confidentially filed papers with Britain’s markets regulator in early June, two sources said, kicking off the process for a potential London listing by the online fast-fashion retailer later in the year, according to Reuters.
June 13, 2024: Shein, known for its China-made $5 tops and $10 dresses, has hiked prices by over a third on some core products, in a move likely to boost revenues ahead of its planned IPO, according to an analysis of its pricing strategy, as per Reuters.
June 7, 2024: As Shein ramps up its pre-IPO charm offensive in Britain, pushback is growing too from Europe’s retail industry and lawmakers, according to Reuters.
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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