After hitting a valuation of more than $100 billion earlier this year, Chinese fast-fashion retailer Shein has lost up to one-third of its worth in private markets recently, according to persons briefed on the situation. According to three sources with knowledge of the situation the quickly growing store, which sells inexpensive clothing and lifestyle items mostly to Gen-Z consumers in the West and the Middle East, has been valued between $65 billion and $85 billion in private markets. Shein was valued at just over $100 billion in a fundraising round in April, becoming the third most valuable private firm in the world, after ByteDance and SpaceX. The corporation was worth $15 billion just two years ago.
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