A Shein, one of the world’s largest fast fashion platforms, has confidentially filed documents with U.S. regulators for an initial public offering (IPO) that could take place next year, according to a person familiar with the matter.

The online retailer, founded in China but currently based in Singapore, is working with Goldman Sachs, JPMorgan Chase, and Morgan Stanley for the listing, said the person, who requested not to be identified because the filing was not public.

This information comes from Bloomberg.

Representatives from Shein, JPMorgan, and Morgan Stanley declined to comment. A spokesperson for Goldman Sachs did not immediately respond to a request for comment.

The filing was previously reported by the Shanghai Securities News.

Shein has gained popularity in several countries around the world, including Brazil, thanks to its ultra-low-priced clothing. The company is aiming for a valuation of up to $90 billion in a U.S. IPO, as reported by Bloomberg News earlier this month.

In Brazil, the Asian company announced plans to produce clothing with local suppliers amid the federal government’s plans to tax imports valued up to $50.

Shein’s estimated sales now surpass those of Zara and H&M in the U.S. fast fashion market.

At the same time, Shein has faced criticism for alleged poor working conditions in the factories it partners with, overproduction of low-quality clothing, and the use of cotton from a Chinese region accused of forced labor.

U.S. senators have written to Shein CEO Chris Xu requesting more information on labor-related allegations.

Criticism has not prevented Shein’s meteoric rise among consumers worldwide. Last year, Shein opened distribution centers in the United States, Canada, and Europe to speed up shipping times in these regions. The company also began expanding production in Brazil, Turkey, and India.

Join the discussion: Connect with other investors on your favorite stocks or explore the top-talked-about stocks on our Breakout Boards.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making investment decisions.
Some portions of this content may have been generated or assisted by artificial intelligence (AI) tools and been reviewed for accuracy and quality by our editorial team.