Adds background in paragraph 4, 5Nov 27 (Reuters) - China-founded fashion company Shein has confidentially filed to go public in the United States, the Wall Street Journal reported on Monday, citing people familiar with the matter. The fast-fashion giant has been working with at least three investment banks about a potential IPO and was in talks with the New York Stock Exchange and the Nasdaq, Reuters had reported in July. Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the offering, which could happen in 2024. the WSJ report said. Shein did not immediately respond to a Reuters request for comment. Fast-fashion has been gaining popularity in the United States with Shein partnering with SPARC Group, a joint venture between Forever 21 owner Authentic Brands AUTH.N and mall operator Simon Property SPG.N, as the online fashion retailer and its rivals look to expand their market reach.

Source: Wall Street Journal November 28, 2023 10:06 UTC