Shein is reportedly preparing for a $47 billion Initial Public Offering (IPO) in what would be the largest IPO in history.
It is understood the fast-fashion company is expected to submit a prospectus for listing in the near future according to Forbes.
Shein has so far denied the rumours of the potential offering however it could follow in the footsteps of fellow fashion brands Dr. Martens, ThredUp and Poshmark in listing this year.
The fast-fashion company has seen astronmical growth since its inception in 2008 and is now sat above Amazon as the most downloaded shopping app on iOS and Android market places in the US, according to App Annie.
The brand raised $500 million to bring it to a $5 billion valuation in 2019 and in August 2020 it raised an undisclosed amount from an undisclosed investor at a $15 billion valuation.
The Chinese ecommerce fast-fashion app has been dubbed the “TikTok of ecommerce”, and is reportedly the fastest growing ecommerce company in the world, expanding over 100 per cent every year for the last eight years.
Shein focusses on delivering ultra-cheap goods to “Gen Z” shoppers by utilising social media influencers on TikTok and Youtube and offering hundreds of cheap promotions.
The company uploads hundreds of new collections and products every week and ranks first in world rankings for web traffic in fashion and apparel according SimilarWeb, putting them ahead of household names Nike, Zara, Macys, Lululemon and Adidas.
Shein’s potential IPO would see it become the largest in history, smashing Chinese ecommerce company Alibaba’s $25 billion offering in 2014.
Chinese companies make up three of the top five IPO’s in history according to Investopedia.