The news: Shein is rapidly expanding its Singapore office as it prepares for a potential US IPO, according to Reuters.
A star has risen: Shein has grown rapidly to become one of the world’s largest fashion companies. Last year, the fast-fashion retailer reportedly generated about $15.50 billion (RMB 100 billion) in revenues, and its valuation was roughly $50 billion (RMB 322.64 billion) in the early part of 2021, per Reuters.
The big takeaway: Shein’s algorithmic approach to fast fashion has enabled it to grow rapidly while minimizing unnecessary expenses, making the company highly attractive to investors. However, while the company produces its products in China, it does not sell domestically, which could be a factor in its decision to look to other countries for capital.