Shein Targets $90 Billion Valuation in Upcoming IPO

Shein, the Singapore-based fast fashion giant, is setting its sights high for its U.S. initial public offering (IPO), targeting a valuation between $80 billion and $90 billion, as reported by Bloomberg. This ambitious valuation marks a significant increase from its $64 billion valuation earlier this year and slightly below its peak valuation of $100 billion in April 2022.

Despite these challenges, Shein’s financials appear robust. Sources close to the company reveal an anticipated net income of $2.5 billion for this year. This figure shows a significant growth from the 1 billion yuan (about $137 million) reported in an investor presentation in 2019.

Adding to its accolades, Shein was the most downloaded shopping app globally in 2022, amassing 229 million new downloads across the App Store and Google Play, reflecting its widespread popularity and market reach.

But $90 billion? Maybe not.