SHEIN Is Raising $1 Billion At A $100B Valuation

Fast fashion eTailer SHEIN is seeking to raise $1 billion in an investment round that would value the company at $100 billion.

The company’s move to raise fresh funding comes at a time when new rumors have been swirling regarding SHEIN’s plan to go public. The company, however, said it had no such plans in the short term and that it was currently valued at several billion dollars. Some of the company’s existing backers include IDG, Sequoia and Tiger Global Management.

According to people familiar with the matter, the size of the investment round and the company’s valuation can still change.

The company’s efforts to raise fresh funding follow a two-year period of rapid growth. In 2021, the company’s app overtook Amazon in terms of total downloads in the U.S. market. Its growth has come as a result of its ability to efficiently navigate supply-chain issues, data-driven approach to design and distribution of apparel, as well as its savviness in exploring tax loopholes in both the U.S. and China that came to light during the trade war between the two countries, Bloomberg reported.

SHEIN today offers over 600,000 items to customers in more than 150 countries and maintains operations in Guangzhou, Los Angeles and Singapore.

SHEIN Shelves IPO Plans Following Russia’s Attack On Ukraine

Originally published at https://retailbum.com on April 4, 2022.