Chinese fast fashion e-commerce giant Shein is in talks to secure a valuation of about $100 billion following the latest round of funding.
According to the authoritative Business of Fashion, the company is currently in private talks with investors to raise an additional billion dollars. Last year, Shein said he had not yet considered going public, despite a multibillion-dollar valuation.
Bloomberg confirmed that the e-commerce platform has continued to experience positive growth within its community, reaching over 100 million members and 230 million app downloads globally in 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.
Its relentless growth has been evident thanks to its apparel models based on a careful analysis of what luxury brands produce in an expert supply chain strategy and tax loopholes in China and the United States.
It remains to be seen whether the financing will be successful and what it will mean for the company’s growth in the future.