Shein has seen big swings in its price tag over the last year. The Singapore-headquartered fast fashion platform is targeting a valuation of up to $90 billion in a potential U.S. initial public offering, Bloomberg reported on Tuesday.
That price tag is up from the $64 billion valuation it was given in a funding round early this year. But the online fashion upstart, which has disrupted an industry that had been by the likes of Zara and H&M, attained an even higher valuation of $100 billion in April 2022.
Founded in China over a decade ago, Shein has pioneered the use of data analytics to predict customer demand and produce small batches of clothing to keep inventory costs low. While receiving recognition for its innovation in its light-asset e-commerce model, it faces growing challenges around copyright infringement lawsuits, criticisms from environmentalists and competition from Temu, an up-and-coming e-commerce site run by China’s PDD.
TechCrunch has reached out to Shein for comment.
This is a developing story…