Image Source: Visual China

BEIJING, April 6 (TMTPOST) — Chinese fast fashion brand SHEIN is trying to raise US$1 billion in a new round of financing, Bloomberg reported.

The fast-fashion brand is currently talking to potential investors such as General Atlantic. SHEIN's valuation will reach US$100 billion if the company can complete the new financing round. This means that SHEIN's market valuation will be two times greater than that of the valuation of Japanese fast-fashion brand Uniqlo's parent company Fast Retailing. SHEIN's valuation will also be higher than the combined valuation of Zara's parent company Inditex Group and H&M Group.

Other private Chinese companies with a valuation that is higher than US$100 billion include ByteDance and Ant Financial. Besides General Atlantic, another investor is willing to invest US$700 million in the financing round, Chinese tech media 36Kr reported, quoting several sources.

SHEIN has declined to comment on "market rumors".

In June 2021, SHEIN also denied financing activities in response to a news report from Bloomberg. As of September 2020, the Chinese fast fashion company had completed five financing rounds. Existing investors include Sequoia Capital, IDG Capital and Shunwei Capital.

It was reported that SHEIN was planning to go public on a stock market in the United States. In January 2022, Reuters reported that SHEIN was considering relaunching its American IPO, citing sources familiar with the matter. It was reported that the company had talked to Bank of America, Goldman Sachs and J.P.Morgan on the IPO matter.

During 2020 and 2021, SHEIN was expanding at a fast pace. After achieving huge success in North America, Europe and the Middle East, the company is now entering the markets in Southeast Asia and South America. Marketing Inactive reported that SHEIN wants to set up a regional center in Singapore, through which it will work to penetrate the markets in Singapore, Malaysia and other Southeast Asian countries.