The fast-fashion giant has been working with at least three investment banks about a potential IPO and was in talks with the New York Stock Exchange and the Nasdaq, Reuters reported in July.
Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the offering, which could happen in 2024. the WSJ report said.
Shein declined to comment to Reuters on the report.
Fast-fashion has been gaining popularity in the United States with Shein partnering with SPARC Group, a joint venture between Forever 21 owner Authentic Brands (AUTH.N) and mall operator Simon Property (SPG.N), as the online fashion retailer and its rivals look to expand their market reach.
Reporting by Pritam Biswas and Ananya Mariam Rajesh in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.
Persons:
David, Dee, Delgado, Shein, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Didi Global's, Simon Property, Pritam Biswas, Ananya Mariam Rajesh, Arun Koyyur
Organizations:
REUTERS, Wall Street, New York Stock Exchange, Nasdaq, Reuters, JPMorgan, SPARC Group, Forever, Brands, Simon, Thomson
Locations:
New York City, U.S, China, United States, Bengaluru