2021 has already seen a number of initial public offerings (IPOs) from the fashion industry, including Dr Martens, Poshmark, and thredUp.
Shein is expected to be the next one to go public in what Forbes reports to be a possible $47 billion valuation IPO. If this happens, it could make the Shein IPO the largest IPO in history to date, wiping the floor with the current titleholder, Alibaba, and its $25 billion IPO back in 2014.
Shein, the Chinese eCommerce company targeting Gen Z customers, is the fastest of fast fashion retailers, apparently adding over 5,000 new products to its site every single day!
By comparison, Inditex owned Zara, one of the best-known fast fashion names, produces 12,000 new designs each year. Not only that but while H&M and Zara are known for their cheap and cheerful prices, Shein beats them on that front as well, with prices as low as $3 for a miniskirt.
Like many fast fashion companies, there are concerns regarding Shein's long-term sustainability profile. That said, the alternative data on Shein's digital performance looks impressive.