Chinese fashion online store Shein has submitted an application to American regulators for an initial public offering. An anonymous source told the Bloomberg news agency.
Shein sells clothing online at low prices. In the United States, the group is said to sell considerably more than fashion chains Zara and H&M.
The company, which was founded in China and now has its headquarters in Singapore, has engaged the banks Goldman Sachs, JPMorgan and Morgan Stanley to manage the IPO, it said. That could take place as early as next year.
Bloomberg had previously reported that Shein would aim for a valuation of around 90 billion dollars (82 billion euros) in its IPO.
Shein is not without reproach. The company has already come under fire due to poor working conditions in its partner factories and the low quality of its clothing. H&M took Shein to court in Hong Kong this summer for plagiarism.
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