Shein, the Chinese fast fashion website, has raised $2 billion in a new funding round, according to a report in the Wall Street Journal.
The latest funding round values the company at $66 billion, down from its $100 billion valuation in 2022.
Shein reportedly generated $23 billion in revenue in 2022, on par with other fast-fashion retailers, including H&M and fashion conglomerate Inditex, which owns popular brands like Zara and is rumored to be exploring an initial public offering.
