According to Reuters, two people familiar with the matter said that cross-border e-commerce SHEIN is resuming its plan to go public in New York this year and has hired Bank of America, Goldman Sachs and JPMorgan Chase to work on its IPO. It is not clear how much money it will raise when it goes public.
However, SHEIN denied this statement. A SHEIN spokesperson said the company currently has no plans to go public.
In fact, there have been more than one or two online rumors about SHEIN going public in the United States. Earlier, there were media reports that SHEIN would go public in the United States as early as the fourth quarter of 2020, raising at least $700 million. Around May last year, there were reports that SHEIN was preparing for an IPO and was expected to submit a listing prospectus and go public in the short term.
In the second half of last year, Bloomberg reported that SHEIN responded that it had no plans to go public in the short term and had not raised any funds recently. Some media reports on SHEIN's valuation and financing plans were "inaccurate." In addition, SHEIN also stated in a statement that the company's focus for some time to come will still be on developing and expanding its own brand.
SHEIN is promoting the high-end brand. In June 2020, SHEIN launched its high-end series, SHEIN Premium, for the first time. In April last year, the series was officially upgraded to its sub-brand, MOTF. The official website introduces MOTF as follows: Customers can enjoy high-end clothing without paying high prices.
It is understood that MOTF's pricing is maintained between US$25 and US$99. In terms of price, MOTF's price is not much higher than SHEIN's products. Its main "high-end feeling" comes from the choice of fabrics. In terms of fabrics used, in addition to conventional needle-woven fabrics, it also involves leather, satin, silk, acetate, cuprammonium silk, environmentally friendly fabrics, etc. Currently, one of MOTF's main series, Silk Collection, uses mulberry silk.
In addition, SHEIN is also developing a diversified path. As the market continues to develop, in addition to fashionable women's clothing, SHEIN has also derived related product lines such as men's clothing, children's clothing, beauty, home furnishings, and pets, and eventually developed into a full-category e-commerce platform. SHEIN IPO |
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