Shein Is Said to Target Up to $90 Billion Valuation in US IPO

Shein is touting its hopes for a valuation of as much as $90 billion as it lays the groundwork for an eventual US initial public offering, a level that far exceeds how the fast-fashion giant is valued in private trades, according to people familiar with the matter.

The company has told prospective investors that it’s aiming to fetch a valuation of $80 billion to $90 billion in a listing, the people said. The timing of the share sale remains uncertain given the market volatility, according to the people.

In private trades, Shein’s valuation has dropped below the $66 billion it ...