Shein Valued at $100 Billion in Recent Funding Round

Fast fashion retailer Shein was valued at $ 100 billion in a recent round of funding, and according to people familiar with the matter, making the China-based clothing retailer one of the world's most valuable private companies. 

The funding round raised between $1 billion and $2 billion for Shein. Private-equity firm General Atlantic participated in the funding round. It was earlier reported that Shein was in talks to raise fresh funding at such a large valuation. 

According to PitchBook Data Inc, Shein was valued at around $15 billion in 2020. At the valuation of $100 billion, the startup is worth more than the combined market capitalization of European rivals H&M Hennes & Mauritz AB and Zara owner Inditex SA.

Founded in 2008, Shein started out as a women's clothing retailer called Sheinside. According to a report by Ernest Research, the online-only sellers gained market share significantly during the pandemic, surpassing H&M, Zara and Forever 21 to become the largest fast-fashion retailer in the United States.