There’s this Chinese e-commerce brand called SHEIN that focuses on selling really trendy outfits for women at very low prices. It’s come under scrutiny in the past for adding to the issues associated with fast fashion and was also at the forefront of the China-US trade war. But, according to recent anonymous reports, it’s about to raise US$1 billion with potential investors, which would push the company’s valuation to US$100 billion and make it the third-most valuable company in the world.
Last year, it beat Amazon to become the most downloaded shopping app in the US and has about 600,000 items stocked for its buyers, and it has some high-profile investors like Tiger Management.
According to SHEIN, it reaches consumers across 150 countries and regions. “We place a premium on choice, delivering more than 6,000 new fashion, beauty and lifestyle products daily with more than 600,000 items available. Our mission is to help people express their individuality through the latest trends that are accessible and affordable,” writes the company.