Shein is also hoping that investors will welcome an I.P.O. Bankers had hoped that the long-moribund market for new listings would reopen this fall with offerings from the chip designer Arm, the grocery delivery service Instacart and the sandal maker Birkenstock. Instead, those debuts quickly busted.
But deal-makers say 2024 is a better bet for I.P.O.s because of improving economic and market conditions. (And both Arm and Birkenstock have since seen their shares climb above their listing prices.) Shein — which is working with JPMorgan Chase, Goldman Sachs and Morgan Stanley — also has high hopes for its valuation, now said to be at $66 billion.
The retailer isn’t the only well-known company betting on an I.P.O. revival: Reddit is reportedly testing the waters for an offering, and the luxury sneaker maker Golden Goose is said to be taking steps toward a listing as well.
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