New Funding Round for Fast Fashion Platform Shein Gives Company Around $100 Billion USD Valuation
The start-up makes its way to becoming a fast-fashion juggernaut.
Chinese fast-fashion e-commerce giant Shein is in the talks of securing a valuation of approximately $100 billion USD with its latest funding round.
According to Business of Fashion, the company is currently in private conversation with investors to raise an additional $1 billion USD. Last year, Shein stated that it has not yet considered going public, though it holds a multi-billion dollar valuation. Bloomberg has confirmed that the e-commerce platform has continued to see a positive growth within its community, reaching over 100 million members and 230 million app downloads globally as of February 2022.
The company is looking to continue its expansion, currently operating in Guangzhou, Singapore and Los Angeles, offering over 600,000 fashion items to consumers in over 150 countries. Marketing Interactive notes that Shein is expanding into the Southeast Asia region with the launch of its SHEIN VACAY MODE campaign last summer. The growth of the company has been evident due to its data-driven clothing designs, supply-chain savvy strategy and tax loopholes in China and the U.S. It remains to be seen if the funding will go through and what it means for the company’s growth in the future.
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