China Fast Fashion Star Shein Said to Eye Up to $90 Billion Valuation in US IPO

In the secondary market, stakes that have recently changed hands valued Shein at about $50 billion to $60 billion, shrinking up to 50% from its valuation peak in April 2022.

BEIJING, November 10 (TMTPost)— China-based online fast fashion star Shein is seeking an initial public offering (IPO) to  substantially upscale its valuation.

Credit:Visual China

Credit:Visual China

Shein is targeting to be valued up to $90 billion through its IPO in U.S., and hasn’t made final decision about the deal including its valuation and timing yet as it is still under consideration, Bloomberg cited people familiar with the matter.

Founded in 2012, Shein has expanded its presence to over 150 countries and replaced ZARA and H&M in the U.S. market as the benchmark of the new-generation fast-fashion brands, with products sourced entirely from the Chinese supply chain. $90 billion is much higher than the current valuation that the market priced in. In the secondary market, stakes that have recently changed hands valued Shein at about $50 billion to $60 billion, the people said.  

A funding round of $1 billion in April 2022 brought Shein’s valuation to a peak of $100 billion. The fast fashion retailer accordingly entered into the top three most valuable private companies in the world, behind another TikTok parent ByteDance and the aerospace unicorn SpaceX, according to CB Insights, a global startup database and business analytics platform. The valuation also suggests Shein would be a fast fashion Titanic that overtakes the combination of two European rivals—H&M Hennes & Mauritz AB and Zara’s owner Inditex SA.

However, valuation of Shein and other startups kept dropping since then as wary toward risk assets increased amid uncertain economic outlook and higher interest rates. Shein was in talks with potential investors to raise up to $3 billion and the new fundraising would value the unicorn at $64 billion, shrinking more than a third from its valuation peak in April 2022, the Financial Times reported in January. Reuters later learned Shein was valued at $60 billion after it raised around $2 billion in a new founding round in March.

Shein was reported to consider IPO recent years, even its valuation dropped sharply from its peak , a warning signal reflecting its explosive growth was fading and was overtaken by Temu, an overseas platform launched by Chinese e-commerce giant PDD Holdings Inc. in last September.

Reuters report in late June that Shein has confidentially submitted its IPO registration with the U.S. Securities and Exchange Commission (SEC), choosing a popular way for private companies with less than $1 billion in revenue to pursue an IPO, and the deal could take place by the end of this year. Shein later denied the report. Its spokesperson called it “rumor”, without elaborating. Reuters reported in July that Shein is working with at least three investment banks including Goldman Sachs, Morgan Stanley, JPMorgan Chase and has been discussing with the New York Stock Exchange and Nasdaq about its possible IPO.

Spending on Temu for the first time outweighed Shein in the U.S. market in May, and the former was 20% higher than the latter that month, according to Bloomberg Second Measure, which analyzes billions of credit and debit card transactions. The data provider also estimated that Temu has consolidated its lead every month since May, and its sales in September have grown into more than twice as much as Shein in the United States.

转载请注明出处、作者和本文链接
声明:文章内容仅供参考、交流、学习、不构成投资建议。
想和千万钛媒体用户分享你的新奇观点和发现,点击这里投稿 。创业或融资寻求报道,点击这里

敬原创,有钛度,得赞赏

赞赏支持
发表评论
0 / 300

根据《网络安全法》实名制要求,请绑定手机号后发表评论

登录后输入评论内容

快报

更多

2024-12-25 23:00

大商所、郑商所夜盘收盘,PTA跌超1%

2024-12-25 22:51

国家电投集团年发电量创历史最好水平,超7000亿千瓦时

2024-12-25 22:46

涪陵榨菜谈调价:今年主力产品价格未有调整,榨菜酱产品降价

2024-12-25 22:35

刘建超会见日本外相岩屋毅

2024-12-25 22:29

提示:美股今日休市

2024-12-25 22:27

中房协发起“迎新年购房安家活动”倡议

2024-12-25 22:21

北大医药:公司实际控制人变更为徐晰人

2024-12-25 22:21

农业农村部举办人工智能专题报告会

2024-12-25 22:11

近30家企业参与,储能行业将召开防止内卷式竞争闭门研讨会

2024-12-25 22:10

北京市大兴区挂牌两宗地块,起始价23.2亿元

2024-12-25 21:56

深圳个人养老金定存利率:大型商业银行在2%左右,养老保险产品综合收益可到3.9%

2024-12-25 21:47

全国首个“低空+高铁”跨城联运场景在杭州投运

2024-12-25 21:28

通义千问发布业界首个开源多模态推理模型QVQ-72B-Preview

2024-12-25 21:25

《中华人民共和国增值税法》全文公布:销售不动产税率为百分之九

2024-12-25 21:19

*ST卓朗:收到上交所拟终止公司股票上市事先告知书

2024-12-25 21:18

理想汽车会做人形机器人吗?李想:100%会做,但不是现在

2024-12-25 21:07

万安科技:实控人拟减持不超3%股份

2024-12-25 21:06

专家解读专项债券管理新政:可减少在途时间,避免“资金等项目”

2024-12-25 21:05

岭南股份:可转债偿付方案正加快制定,并尽量调动多方资源推进催收工作

2024-12-25 21:02

韩国加密资产市场迅猛发展,日均交易额逼近股市

扫描下载App

Baidu
map