Shein, the Chinese fast-fashion group, has filed confidential paperwork for an initial public offering with the US securities regulator, according to two people briefed about the matter, in what is likely to be one the largest US listings of the past decade. 

The internet retailer, which became hugely popular during the coronavirus pandemic when millions of people embraced online shopping, has hired JPMorgan Chase, Morgan Stanley and Goldman Sachs to advise it on the IPO. 

Shein is backed by large investors including Abu Dhabi sovereign wealth fund Mubadala, venture capital group Sequoia China and private equity group General Atlantic. It has decided to file for an IPO about a year after it raised cash at a valuation of about $64bn, down by a third from the $100bn valuation it reached during a fundraising round in April 2022.