Shein seeks $90 billion valuation in IPO

Fast-fashion giant Shein is preparing for a U.S. initial public offering (IPO), aiming for a valuation as high as $90 billion, Bloomberg News reported on Monday, citing people familiar with the matter.

The company has told prospective investors that it’s aiming to fetch a valuation of $80 billion to $90 billion in a listing, the people said. That price tag is up from the $64 billion valuation it was given in a funding round early this year.

Despite its innovative e-commerce model, Shein faces challenges such as copyright infringement lawsuits, environmental criticisms, and competition from Chinese e-commerce site Temu.