Shein, the China-originated fast fashion giant, has seen its profits soar to over $2 billion, marking a significant leap as it stands on the cusp of a potential Initial Public Offering (IPO) in either New York or London. Known for its aggressive marketing through social media, Shein has captivated a global audience, pushing its sales to an impressive $45 billion last year. Now headquartered in Singapore, the company’s profitability rivals and in some cases surpasses, established fashion behemoths like H&M, Primark, and Next, though still trailing behind Inditex, the parent company of Zara.
Amidst its financial triumph, Shein is reportedly in discussions about a London listing, driven by concerns that the US Securities and Exchange Commission may not greenlight its IPO. A successful listing in London could mark one of the city’s most significant corporate debuts, potentially valuing Shein at up to $90 billion. This move was hinted at following a meeting between Shein’s chief, Donald Tang, and UK Chancellor Jeremy Hunt, signifying the strategic maneuvers the company is considering for its next phase of growth.
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