Rising Fashion and Tech Giants Poised for Public MarketsNov/29/2023
Chinese fast-fashion leader Shein, valued at $66 billion, is preparing for a confidential U.S. IPO possibly in 2024, signaling its global expansion ambitions. Despite controversies, including forced labor accusations and scrutiny over Beijing ties, Shein, with CEO Sky Xu and new executive chair Donald Tang, is addressing these issues while partnering with U.S. firms like Forever 21. Meanwhile, Reddit, valued at $10 billion, is also exploring an IPO, revisiting plans from 2021 with potential backing from investment giants like Morgan Stanley and Goldman Sachs, aiming for a significant market debut. Both companies’ moves towards public listings represent major shifts in their respective industries, amidst global market uncertainties and evolving regulatory landscapes. The word clouds below depict pending and registered trademarks filed by Reddit, Inc.