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In 2015, Xu moved his company's headquarters from Nanjing to Guangzhou and subsequently rose to become a global brand. In February 2022, Xu moved to Singapore according to reports, where Shein also moved its legal headquarters to. In the same year, Shein reached a valuation of $100 billion. [3]
The company was valued at $100 billion. [19] In October 2022, The Wall Street Journal reported that Shein generated US$24 billion in revenue in 2022, becoming almost as large as traditional fast fashion brands such as Zara and H&M. [7] Its other competitors include ASOS, Fashion Nova, Forever 21, PrettyLittleThing, Temu, and Topshop. [20]
Shein acquired one-third of Forever 21’s parent company in 2023, ... the company’s cofounders had a combined net worth of $5.9 billion with 750 stores across the U.S.
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Investigators have accused Shein of forcing workers to work 16-hour days, withholding wages, and utilizing child labor, some of which the Singapore-based company has admitted to.
The company informed investors last month that it aims for a valuation in the range of $80 million to $90 billion, according to Bloomberg. Shein will privately work with the U.S. Securities and ...
People keep saying that everything is so down compared to 2020 and 2021. To me, the story isn’t that things are down, it’s that we all collectively went crazy in 2020 and 2021, and that we ...