Fast-Fashion Giant Shein On Track For IPO in 2024 With a Valuation of $66 Billion

Benzinga

Shein has confidentially filed to go public in the US and is moving forward with its long-rumored IPO. It has tapped Goldman Sachs, JPMorgan and Morgan Stanley to lead the offering. Shein was last valued at $66 billion. It could be ready to start trading on public markets as soon as 2024. Shein has been growing rapidly in recent years and is now a global behemoth, but it has faced accusations of forced labor, design theft, environmental harm, and labor law violations. Issues around its supply chain practices and ties to China have led to investigations. Lawmakers have called on the SEC to ensure no forced labor is used before allowing the IPO.

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00:00 Benzinga and here's what's on the block. Xi'an has confidentially filed to go public in the U.S.

00:04 and is moving forward with its long-rumored IPO. It's tapped Goldman Sachs, JPMorgan,

00:09 and Morgan Stanley to lead the offering. Xi'an was last valued at $66 billion. It could be ready

00:14 to start trading on public markets as soon as 2024. Xi'an has been growing rapidly in recent

00:19 years and is now a global behemoth, but it's faced accusations around forced labor, design theft,

00:24 environmental harm, and labor law violations. Issues around its supply chain practices and

00:28 ties to China have led to investigations. Lawmakers have called on the SEC to ensure

00:33 no forced labor is used before allowing the IPO. For all things money, visit Benzinga.com.

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