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.
December 6, 2024: The Vietnamese government has halted the activities of Chinese online retailers Temu and Shein as the companies have failed to comply with the Southeast Asian nation’s regulatory requirements for e-commerce services registration, according to Yahoo Finance.
November 29, 2024: Temu and its rival Shein are branching deeper into the business of selling toys as many American and European shoppers prepare to seek out steep bargains during the Black Friday weekend, according to Reuters.
November 14, 2024: Amazon has launched a new outlet called Haul, which caps the price of products on sale at $20, in an effort to take on low-cost retailers Temu and Shein, according to the BBC.
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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