Is Shein Shutting Down in 2024?

You are Here because you wants to know Chinese Fast-Fashion Giant Shein is Shutting Down in a Year 2024? This Question arise in your Mind probably after you find Something related Videos on TikTok. There are Misinformative Content on TikTok regarding Shein is Shutting Down in 2024 and the Video Went Viral with over 74M Views.

shein clothing brand 2024

So, The Fact is Shein is not Closing Down in 2024, In fact, there are recent developments indicating the opposite regarding Shein will Go Public in 2024.

  1. US IPO plans: Shein is reportedly pushing forward with plans for an initial public offering (IPO) in the US in 2024, showcasing confidence in its future and expansion goals.
  2. Pressing forward: Reports and sources claim Shein has filed for the IPO, confirming its plans to tap into the public market.

The company is currently owned by Sky Xu, also known as Chris Xu in the International English media. Today, he is a billionaire after starting the company in 2015 with Molly Miao; Miao is now COO of Shein. Maggie Gu and Henry Ren have also been part of the company since its start.

Shein’s listing would be one of the largest initial public offerings by a Chinese company in the U.S. and could help kickstart an IPO market that has been largely stalled since 2021, with the exceptions of the Instacart, Arm Holdings and Klaviyo listings in September.

Shein has raised some $4.1 billion from private investors, per Crunchbase data. It was last valued at $60 billion in a May funding round. That valuation was down more than a third from a year earlier.

So, The Chinese Fashion maker and lifestyle e-retailer will go Public in 2024. The Brand is hugely Popular among the Youth for their Seasonal Clothing with Current Trends. So, The TikTok Video or News about Shein Closing Down in 2024 are Completely False.

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