Chinese online fashion giant SHEIN is reportedly set to raise around $2 billion in a new funding round this month with aims for a US listing in the second half of 2023.
According to a report from Reuters, major investors in this round include the United Arab Emirates' sovereign wealth fund Mubadala, private equity firm General Atlantic (GA) and venture capital group Sequoia Capital China, while Tiger Global Management has become a new investor.
But despite the recent significant fundraise, SHEIN has cut its valuation by a third from a year ago to $64 billion, Reuters adds. Two sources noted that investors who participated in SHEIN’s 2022 fundraising will adjust the value of the stakes they bought earlier to reflect the company’s current valuation.
The report also claims that SHEIN last month held talks with a number of investment banks in order to pick lead bookrunners ahead of its US IPO. Should it be successful, the flotation would be one of the biggest of 2023 and serve as an indicator of US appetites to invest in Chinese companies at a time of heightened geopolitical tensions.
The firm previously eyed an IPO in 2020 and hired Bank of America, Goldman Sachs and JPMorgan at the time, but decided against it due to unpredictability at the height of the Covid-19 pandemic.
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Poundland significantly reduces antisocial behaviour, aggression and shoplifting with Motorola Solutions VT100 body cameras
Retail should not be a high-risk occupation. As a company, we are focused on listening to our colleagues and customers to help them with the issues they are facing in-store and so far, the feedback on our body cameras has been excellent. They act as a great visual deterrent, help to de-escalate situations and overall, this project has significantly aided our goal to make the retail environment safer.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
For further information on Motorola Solutions’ retail security products, including body cameras, click here.
Supplying demand: how fashion retailers can meet the needs of customers and still be sustainable
The fashion industry is no stranger to breaking the mould and setting trends, but the pursuit of style can come at a huge cost to the environment.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
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