Shein confidentially submitted its IPO registration to the United States Securities and Exchange Commission (SEC), the sources said. The stock market debut could take place before the end of 2023.
The sources requested anonymity because the matter is confidential. Spokesmen for Shein and the SEC did not immediately respond to requests for comment.
Competition with Amazon
In the United States, the Chinese giant opened its platform to third parties to operate as a marketplace, in a format similar to that offered by stores such as Amazon and Mercado Libre.
The company enabled this business model in Mexico at the beginning of June, while it evaluates operating with Mexican manufacturers, a strategy that would allow it to shorten the delivery time from its factories and distribution centers located in China.
In the event that the company settles in Mexico, one of the steps in its strategy is to supply the US market from Mexico.
With information from Reuters.