Shein reportedly seeking 100 billion dollar valuation for latest funding round

Chinese fast-fashion company Shein could be seeking a valuation of 100 billion dollars as it is reportedly in talks with potential investors for a new funding round.

The value would top that of H&M and Zara combined, putting the e-tailer as a front-runner in the industry and making it one of the most valuable start-ups.

Initially reported by Bloomberg, the potential new investment round would likely reflect the company’s ongoing sales surge. In 2020, the company saw its sales triple to 10 billion dollars, which made it the biggest web-only brand in the world.

Since its launch in 2012, Shein has become known for its fast-paced product drops, releasing over 5,000 products on its site daily. The company has previously worked with celebrities such as Lil Nas X and Katy Perry to further its connection with Gen Z consumers outside of China.

The report comes in contrast to the industry’s continued criticism of Shein, which is often called out for its lack of effort in reversing its environmental impact.

In response, the company announced a 10 million dollar fund in December 2021, to support non-profit organisations that focused on building up entrepreneurs, ensuring animal welfare and promoting recycling.

Shein has not yet responded to FashionUnited’s request for comment.