Online fashion retailer Shein confidentially filed for an initial public offering in the U.S., Reuters and CNBC reported, citing people familiar with the plan.
The share sale is expected for 2024, according to the reports. Goldman Sachs, JPMorgan and Morgan Stanley were hired to lead the IPO, CNBC and Reuters said, without identifying their sources.
The filing with the Securities and Exchange Commission (SEC) will be made public once the company is ready to move forward with the IPO, CNBC said.
One of the key issues to be determined is the valuation of the company, according to CNBC, which said the company was last valued at $66 billion.
Shein was founded in China in 2012 and became popular globally by selling clothes targeted at young consumers, with modern designs and low prices.
The company declined to comment on the IPO plan, Reuters and CNBC said.
