Chinese fast-fashion company has reportedly raised between $1 billion and $2 billion in a new funding round, giving the company a valuation of $100 billion, per
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At a $100 billion valuation, Shein鈥檚 tied for the third-most valuable private company in the world, according to聽The SA国际传媒 Unicorn Board. It鈥檚 only behind and , and tied with . It鈥檚 also valued at more than some publicly traded software companies like and .
The company鈥檚 model has made it popular among young shoppers. It sells a wide variety of trendy clothes and home goods at incredibly low prices. While the quality of the clothes isn鈥檛 exactly top notch (it is fast fashion), that hasn鈥檛 deterred shoppers from flocking to the site.聽
“Shein hauls,” where shoppers show off their purchases, are common on and , and the company could generate $20 billion in revenue in 2022, per a report cited by . Shein also relies on data to produce the season鈥檚 trendiest styles, and tax loopholes also help the company鈥檚 bottom line, per Bloomberg.
The company鈥檚 also gotten some heat for some of its business practices. Fast-fashion brands have long been criticized for their environmental impact, and Shein is no different. And the company has been
, along with and participated in the funding round, per the Journal.
Shein last raised a a round in August 2020, a Series E, bringing its total funding to more than than $553 million. that Shein was in talks to raise money at a $100 billion valuation.
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