Shein files confidentially for US IPO

Multiple media reports say Singapore-based fast-fashion platform Shein has secretly planned a US IPO.

The Wall Street Journal reported it Monday.

This year, Shein raised $2 billion at a $66 billion valuation, but it could go public at $90 billion. As previously reported, the online fashion upstart, which disrupted Zara and H&M, was valued at $100 billion in April 2022.

Shein, founded in China over a decade ago, pioneered data analytics to predict customer demand and produce small batches of clothing to reduce inventory costs, according to Rita Liao. While recognized for its light-asset e-commerce model, it faces copyright infringement lawsuits, environmentalist criticism, and competition from China’s PDD’s new online bazaar, Temu.