The China-based fast-fashion retailer closed the round last week at a valuation of US$66 billion, down from a US$100-billion valuation when it raised between US$1 billion and US$2 billion in April 2022. (The Wall Street Journal)
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The China-based fast-fashion retailer closed the round last week at a valuation of US$66 billion, down from a US$100-billion valuation when it raised between US$1 billion and US$2 billion in April 2022. (The Wall Street Journal)
Talking point: The round was co-led by existing investors Sequoia Capital and General Atlantic, as well as Mubadala, the United Arab Emirates sovereign-wealth fund. The roughly one-third valuation cut comes as tech share prices languish and the U.S. intensifies its scrutiny of Chinese-owned firms. Meanwhile, the retailer has been planning for an IPO as early as this fall and a Canadian expansion. Shein opened a Canadian headquarters in Markham, Ont., last year and is looking to host more pop-up stores in this country.
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