Source: Sharecast
In an interview with the Financial Times, executive chair Donald Tang claims that none of the company's existing investors have questioned a potential valuation at this stage.
“When we are actually going public, there will be that question, but we’re not going public right now [...] We had no conversation so far, zero,” he said.
Shein had attempted to list in New York back in 2023 but its bid was rejected by US authorities on the back of the company's sustainability and labour practices.
It is thought that the Singapore-headquartered firm is aiming at a London listing, with the company understood to have filed confidential paperwork with the Financial Conduct Authority in June 2024 – though regulatory approval is still pending.
In 2022, Shein had been valued at as much as $100bn, though this shrank to $66bn in a 2023 funding round, and is thought to have fallen by as much as a half since, given concerns about competition and the potential impact that US trade tariffs would have on its business.
Shein is keen on an IPO "to embrace the [...] accountability and transparency of being a public company”, he said in a separate interview with The Times.
However, regarding the timing, he reiterated the company would consider a flotation "whenever it's appropriate".
