Fast Fashion Retailer Shein Prepares For Possible $47 Billion IPO

Fast Fashion Retailer Shein Prepares For Possible $47 Billion IPO

In the bag: Shein could be lining up an IPO pricing the company at a huge $47 billion. (Photo by ... [+] Arturo Holmes/Getty Images) Chinese fast fashion retailer Shein is understood to have begun preparations for a possible $47 billion IPO and is expected to submit a prospectus for listing in the near future. While Shein has denied the rumors emanating from across the Chinese investment community grapevine, the sizzling hot IPO market could yet see Shein join Poshmark, Dr. Martens, and ThredUp, which have all brought their fashion offers to the public markets this year. Shein's revenues for 2020 are expected to be close to $10 billion and the fashion retailer's ongoing rise in popularity saw the fast fashion e-commerce app take the crown from Amazon last month for the most downloaded shopping app on iOS and Android in the U. S. according to data from app tracking firms App Annie and SensorTower. It has been sitting at #2 since February. Shein's valuation has been soaring ahead each year. In January 2019, Shein raised $500 million from Sequoia China and Tiger Global at a $5 billion company valuation. In August 2020, it raised an undisclosed amount from an