Shein prepares for London IPO, valued at £50 billion

Shein appears to be nearing its stock market debut. According to The Times, the fast-fashion giant aims to finalize its IPO on the London Stock Exchange by the first quarter of 2024.

Shein prepares for London IPO, valued at £50 billion

The deal, which has undergone valuation adjustments since rumors first emerged in February, is now estimated at around £50 billion (approximately €60 billion at the current exchange rate). Sources indicate that the Singapore-based company plans to hold an initial roadshow for institutional investors in the coming weeks. This will be followed by the formal publication of its IPO prospectus, which has reportedly already circulated among select financiers. Back in October, Shein began informal discussions with potential investors, particularly in the UK and US, many of whom have recently been re-engaged.

Preparations for the listing continue

Preparations for the listing continue as the company awaits regulatory approvals from both China and the UK. However, concerns about the ethics of Shein's supply chain have sparked scrutiny in Europe and the UK. The retailer has faced ongoing criticism from labor rights activists and watchdogs for its opaque sourcing practices, issues that also prompted opposition from US lawmakers when Shein initially planned to list on Wall Street. The IPO comes during a period of strong growth for Shein, which closed the year in Europe with €7.6 billion in revenue, up 68% from the previous year. Despite regulatory challenges, the IPO represents a critical milestone for the fast-fashion leader, providing an opportunity to solidify its global market position.