Shein, the online fashion retailer based in Nanjing (China), has paused its US IPO plans – owing to highly volatile market arising out of the ongoing Russia-Ukraine conflict.
Considering Shein’s strong and stable financial position, the e-tailer seems to be in no mood to risk its reputation in these tough times, consequently halting its stock market launch plans.
Notably, the e-tailer hasn’t yet revealed whether to go ahead with listing this year or sometime in 2023.
If and when this IPO listing happens,then it would be the first major US equity deal to be done by a Chinese firm ever since regulators had tightened oversight of listings in July.
It is imperative that Shein had first prepared for US IPO around 2 years back, but then too it had to halt its plans following escalating tensions between the US and China.
Shein, founded in 2008, is known for selling womenswear, menswear and fashion accessories, besides beauty products, in as many as over 200 countries. It is, reportedly, the largest online-only fashion company in the world today.
Also Read: Chinese fashion e-tailer Shein plans US $ 2.3 billion global supply chain base
