Shein is a fast-fashion phenomenon that ships from its many global warehouses to more than 220 countries and regions, and the United States has become Shein's largest market. Its main investors include JAFCO Asia, IDG Capital, Jinglin Investment, Sequoia China, Tiger Global, and Shunwei Capital, among others. Shein founder Xu Yangtian was established in 2008 and has now become one of the largest fast-fashion companies in the world. Against the backdrop of the rapid development of online shopping during COVID. In 2020, according to Coresight Research, SHEIN expects sales in 2020 to increase by 250% from the previous year to $10 billion, adding more than 2,000 items to its website each week.
Shein's valuation has increased dramatically every year due to soaring sales. In January 2019, Shein raised $500 million from Sequoia China and Tiger Global at a company valuation of $5 billion. In August 2020, the company’s investors, including Sequoia Capital China, IDG Capital, and Tiger Global, valued it at nearly $15 billion in this last funding round, according to CB Insights. According to Bloomberg, Shein has hired Bank of America, Goldman Sachs, and JPMorgan Chase to lead the IPO of the special leads ordinary product manager, and the team leader.
Shein had planned to go to the U.S. for an IPO two years ago. At that time, it was reported that Shein would go public in the U.S. as soon as the fourth quarter of 2020, raising at least $700 million. But it is understood that its plans were shelved, in part due to external factors. In response, a spokesperson for Shein said the company has no current plans to go public. In May last year, Shein also said in a statement that the company has no plans for an IPO in the short term. But it is unclear how much money Shein plans to raise from the IPO. Its spokesman said that, as a private company, it did not disclose financial data.