Shein's executive chairman is stepping down as the fast-fashion giant prepares for its initial public offering (IPO), according to Inside Retail Asia.
Founder and CEO Sky Xu will assume the role of chairman and will lead the investor roadshow ahead of Shein's listing. The leadership transition comes as Shein seeks to boost its valuation and solidify its position in the global fashion market.
The move signals Shein's readiness to go public, with the company reportedly targeting a valuation of over $60 billion. The IPO is expected to be one of the largest in recent years, drawing attention from investors worldwide.