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Shein’s Breakneck Growth Slows, Testing $100 Billion Valuation

  • Sales growth was 60% in 2021, sources say, from 250% in 2020
  • Chinese apparel juggernaut eyeing US IPO; has big name backers
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China’s Fast Fashion Giant Sees Sales Soar in Pandemic
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Shein, the Chinese fast fashion giant that’s quickly become the third-most valuable startup in the world, is seeing a reality check with sales growth slowing from the lofty heights of the pandemic, just as it faces mounting pressure to live up to a $100 billion valuation. 

The online-only retailer of inexpensive clothes, beauty and lifestyle products has become a global phenomenon, with a following of mostly tweens and teenagers in the West making its app one of the most downloaded in the world.