Shein is reportedly getting ready to go public on the US stock market.
According to the Financial Times, the Chinese fast fashion giant has submitted confidential paperwork to the US securities regulator with the help of JP Morgan, Morgan Stanley, and Goldman Sachs.
This move, if confirmed, would mark one of the largest IPOs of the decade.
The recent development echoes earlier predictions that Shein was planning to go public on the New York Stock Exchange after forecasting a revenue increase to $49.8 billion by 2025.
Shein’s previous attempt to list in the US in 2020 was postponed due to market uncertainties at the time.
Furthermore, Shein’s acquisition of Missguided from Frasers Group last month, its first British brand purchase, has been making headlines. The company has also expressed interest in bidding for Topshop as part of its efforts to bolster its fashion offerings.
Image source: Kaspars Grinvalds@ Shutterstock
