Fast fashion

Shein aims for an IPO worth billions

Shein reportedly tried to go public in the USA as early as 2023.

(Bild: APA/Getty Images via AFP/GETTY IMAGES/David Becker)

According to a media report, the Chinese low-cost fashion retailer Shein is preparing an IPO in London, which could value the company at around 50 billion pounds (around 59 billion euros). According to the report, the online retailer known for its affordable and rapidly changing collections could submit the relevant documents to the stock exchange regulator as early as next week.

This was reported by "Sky News" on Sunday, citing people familiar with the plans. No comment was initially available from Shein.

In the event of a listing on the London Stock Exchange (LSE), Shein is expected to raise over one billion pounds by selling new shares to investors, according to the report. In its last financing round at the beginning of last year, the company was valued at 66 billion dollars (around 61 billion euros). A Shein IPO would be a great success for the LSE, after several stock market aspirants had recently given the London financial center the cold shoulder.

According to earlier statements by other insiders, Shein had confidentially applied for an IPO in the USA at the end of 2023, but met with resistance there. The company, which was founded in China and is now based in Singapore, is suspected of using forced labor to produce its fashion items. It has also been criticized for its practice of shipping goods directly from China to foreign customers. This allows the company to avoid import duties.